Appreciate the input! They have already done a capital raising and placed the $400,000 required to earn the 25% equity stake in the gold plant.
Then they have obtained finance from other parties.
"The terms of the Mollehuaca-Santa Rosa deal (the latter project is a gold tailings deposit relatively close to Mollehuaca) see Commissioners Gold acquire a 25% equity in Goldsmith Resources SAC, the operators of the Mollehuaca- Santa Rosa Project, for payment of $400,000. The phase one tranche of $200,000 was met by the Company’s recent private placement; and the phase two tranche of $200,000 will be covered by the current Share Purchase Plan, which closes shortly.
Significantly, additional third party investment of $600,000 has been secured, minimizing CGU shareholder dilution."
I believe all costs are covered now that the recent capital raisings are complete. It's up to the JV partner now.
CGU Price at posting:
4.6¢ Sentiment: LT Buy Disclosure: Held
