Ann: New High-Grade Lithium Project-MOX.AX, page-13

best thing about this transaction (apart from those 6-8% rock chip grades) is that the vendors have agreed to part with a whopping 90% of the project if MOX spends $1.5m in the next 24 months on drilling

clearly vendors value holding 10% of a more developed project (after the $1.5m is drilled) and are bullish on it moving it forward

this is an usually structured deal to the typical one where vendors just take issued shares in the company or cash upfront, firstly this structure leads to dilution and secondly it shows that the vendors are after quick cash/equity as opposed to being believers of what is under the ground.


i'm very excited about this, I would have probably paid $10-15m market cap for it just by reading the deal, yet I'm getting it for under $5m , have been chipping more in during the day