Ann: Resolution of Geko Gold Project Dispute, page-14

First 14 Last

Share
Profile

Follow
schmoove

689 Posts.

19

26/02/18

12:29

Post #: 31344643
Share

Originally posted by schmoove ↑

We got to keep this deal in perspective.
If it were with a Newcrest or even a Ramelius then the big spike would likely ensue.

The deal is with an unlisted microcap hoping to IPO.
I like the deal a lot. It's a solid deal for BNR.
But as for actually getting the stuff out the ground.....we have a long, long way to go.
I'll believe it when I see it.

So what happens on October 1st if mining does not commence?

Expand

Answering my own question after rereading the release.
Should mining not commence by October 1st, there are no contingency conditions laid out in the announcement.
We can only assume therefore that BNR would again lay claim to the tenement in full as it sought to previously before coming to an arrangement with CML.

I really, really hope that mining does commence.
I'll believe it when I see it.

Here is CML's ann on this issue:
http://cm1.com.au/assets/shareholder-announcement-23-feb-2018.pdf

With the Geko dispute now resolved, we have commenced the process to apply for listing on the ASX.
This is an absolute priority of the Board. We welcome BNR’s offer of subscribing to $500,000 of issued capital in our IPO, and together with exceptional interest received from investor groups, we look forward to the issue of our Prospectus early in the second quarter of 2018.

Expand

Here is CML's Executive Summary & Terms Sheet
http://cm1.com.au/assets/executive-summary-and-terms-sheet-v1.2-feb2018.pdf

CM1 intends to place 3.125 Million shares at an issue price of 16 cents to raise $500,000 before costs.

Use of the Funds:
- Fund I.P.O.
- Progress Geko gold project to production
- Working capital.

Subject to board approval of the shares issued under this oﬀer, the
shares will be issued at 16 cents per share. A Prospectus will include
an oﬀer to raise addi onal funding at a price of 20c at the me the
company makes an applica on to list on the ASX. A term sheet is
provided in this package.

Oﬀer Opens: Monday 26th February, 2018
Oﬀer Closes: Thursday 8th March, 2018
All ﬁnal funds in: Monday 12th March, 2018

The company plans to move quickly to IPO with an additional capital
raise of circa $5 million at 20c to complete the listing process and
provide additional cash support to underpin the company’s
proposed expansion plans. As part of the recent agreement, BNR has
committed $500k to the planned IPO.

Expand

BNR will be all paid up by 12th March.
Let's hope the CML IPO gets over the line.

BNR Price at posting: 4.9¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

HAW

Hastings links up with KSA for development of rare earths supply chain

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

There are more pages in this discussion • 30 more messages in this thread...

First 14 Last

Add BNR (ASX) to my watchlist

(20min delay)
Last 4.1¢		Change 0.000(0.00%)		Mkt cap ! $12.33M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

Buyers (Bids)

No.	Vol.	Price($)
1	30422	3.9¢

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 - 16.12pm 27/11/2024 (20 minute delay)

BNR (ASX) Chart

Day chart unavailable

Ann: Resolution of Geko Gold Project Dispute, page-14

Top Stories

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

Hastings links up with KSA for development of rare earths supply chain

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

Buyers (Bids)

Sellers (Offers)