TAR

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1.0¢ taruga minerals limited

Ann: ACQUISITION OF HIGH GRADE COBALT-COPPER PROJECTS IN THE DRC, page-37

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wardo11

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01/03/18

13:01

Post #: 31449052
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Originally posted by lingzzz ↑

Can some one explain where the money come from pay for the project. Need CR.
11
Acquisition Agreements

Master/Government of Lualaba
Tenements (60%)
The principal terms of the terms sheet for Taruga to acquire a
60
% interest in the
Mwil
u
and Kalimombe Projects from the Consortium
are as follows:
1.
Payment of US$150,000 on signature
2.
TAR to conduct drilling programmes at Mwilu and Kamilombe during a 6
month due
diligence period
3.
On completion of the due diligence and should TAR wish to continue, TAR will make
a further payment of US$2,000,000
4.
TAR will fund all exploration to the completion of a B
ankable Feasibility Study (
B
FS
)
within 3 years with 2 addi
tional years if required
5.
Should TAR wish to continue after completion of BFS, TAR will make a pas de porte
payment of US$10,000,000 for each permit that it wishes to continue to develop
6.
TAR will make a final payment of US$20,000,000 for each project where
it discovers
resources in the Measured and Indicated categories exceeding 250,000 tonnes
of contained cobalt OR 1,000,000 tonnes of contained copper at the conclusion
of
the BFS
7.
TAR can withdraw its interest in any project at any stage and will return all
information

Expand

They will require multiple CRs, just like AVZ. Assuming we wish to make the $2m payment within 6 months I will welcome any and all CRs as it will have confirmed the viability of the project,

TAR Price at posting: 29.5¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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Ann: ACQUISITION OF HIGH GRADE COBALT-COPPER PROJECTS IN THE DRC, page-37

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