SXX's 38% position in DTR will soon reduce to 33%. SXX & DTR give the impression has operating as the same company; particularly given the recent inter-company inter-director loan transactions to fund DTR.
SXX have projected receiving a net profit share of around 16% of the revenue from the Fiji land project, i.e., $8M in profit share from $49M in revenue (see 21/6/17 SXX announcement).
therefore, based on yesterday's announcement, SXX could receive $2.2M from their 49% share of the joint $13.7M stage 1 revenue
now:
1. SXX owe a director $2.2M so the $2.2M could be spent paying back the $2.2M
or
2. based on their last quarterly report, DTR will be down to $250K cash at 31/3/18 that is propped up by a $500K loan. that is, the net current assets of DTR is negative $250K. so possibly DTR need to do another capital raising. so the $2.2M coming to SXX could possibly be spent there
who knows?
with the SXX/DTR team heavily focused on the DTR project, there is not an impression they will pick up a cobalt or lithium project in the Congo; but who knows??
