Ann: Acquisition of Gekogold Pty Ltd, page-33

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thecone

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27/10/17

23:49

Post #: 28272228
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Originally posted by The Mole ↑

I think the issue is that while there is a cap of $3.5m (or 3.3% of $106,60,606 gold sales), if the total gold is 130k ozs, then (based on $AUD1500 per oz for gold) the total gold sale will be $157.5m which gives BNR royalties of $10.05m less the $3.5m = $6.5m (correction to my previous post.)

The $750,000 payment is a bit strange. It is not for completion, but when BNR becomes 100% beneficial owner.

Maybe the 100% beneficial ownership occurs when GEM are not able to fulfil their buy-in and forfeit. This leaves BNR with 100% beneficial ownership of 130k ozs gold mine. Anybody else got a better interpretation? So all we pay maybe is $1m if GEM do not fulfil their buy-in.????

Given that Matsa is nearby to the Geko site, they would have a pretty good idea as to how GEM is travelling in the area. GEM have lots of tenements in the area and will have requirements to spend money on those. Maybe cash-strapped?

And as is being shown around the country with a lot of gold mines the real money appears to be the higher underground grades compared to the lower open mine pit grades. Traditionally open pit mining was the limit of gold mining, but now with better understanding and higher gold prices underground is proving profitable.

Think Nicholson.

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Hi Mole, minoil, schmoove et al...you were so on the money here..thanks for stirring my investigative juices.

How far to matsas fortitude from geko, or nearest mill.
All best tc

BNR Price at posting: 3.4¢ Sentiment: None Disclosure: Not Held
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0 Great analysis

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(20min delay)
Last 4.1¢		Change 0.001(2.50%)		Mkt cap ! $12.33M

Open	High	Low	Value	Volume
4.1¢	4.1¢	4.1¢	$4.1K	100K

Buyers (Bids)

No.	Vol.	Price($)
1	12074	4.0¢

Sellers (Offers)

Price($)	Vol.	No.
4.2¢	200000	1

View Market Depth

No.	Vol.	Price($)
1	100000	0.018
1	150000	0.016
1	66000	0.012
1	1000000	0.008
1	500000	0.001

Price($)	Vol.	No.
0.020	264696	2
0.022	19038	1
0.023	100000	1
0.025	138333	2
0.028	250000	1

Last trade - 13.18pm 22/11/2024 (20 minute delay)

BNR (ASX) Chart

Ann: Acquisition of Gekogold Pty Ltd, page-33

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Buyers (Bids)

Sellers (Offers)