mutiny 4 mill due today?, page-3

Gullewa
The Company reached agreement with Redhill Resources Corp and Mutiny Gold Limited during the quarter, whereby Sherwin has agreed to extend the date for payment of the final outstanding $4 million payment to 31 August 2011. In exchange for the Company agreeing to the extension, Mutiny has made a payment of $150,000 and issued 300,000 ordinary shares in the capital of Mutiny and 100,000 2 year unlisted options exerciseable at 12.5 cents.
Mutiny recently announced that it raised $9.7 million of which $4 million will be used to fund the remaining acquisition payment to the Company.
The outstanding amount is secured over the Gullewa assets that formed part of the sale. Should Redhill Resources Corp not make the remaining outstanding payment, the Gullewa assets will return to Sherwin.

The money is late. Does that mean SHD gets Gullewa back?