DLC's Malcolm Day bought EUR on the open market but the t.sage's...

First 26 Last

Share
Profile

Follow
rdncoic

3,706 Posts.

50

06/07/18

04:01

Post #: 34176081
Share

Originally posted by rdncoic ↑

Remember when DLC (PNE) owned all of Paynes Find Gold? How come DLC didn't buy a bundle of CVS? EUR just bought another 10.5 million shares.

https://www.irw-press.com/en/news/e...-sale-completion_43908.html?isin=AU000000EUR7

News

05.07.2018

European Lithium: Paynes Find Gold Project Sale Completion
European Lithium: Paynes Find Gold Project Sale Completion

5 July 2018

As announced 21 December 2017, European Lithium Limited (ASX:EUR, FRA:PF8, VSE:ELI) (the Company) confirmed that the sale of its Paynes Find Gold Project to Cervantes Gold Pty Ltd (ASX:CVS) (CVS) (the Transaction) had settled.

The total consideration in relation to the Transaction comprises $500,000 cash (of which
$420,000 has been received to date) and $500,000 in share consideration (received).

The parties have agreed to settle the remaining cash consideration payable of $80,000 through the issue of 7,000,000 shares in CVS at a deemed issue price of 1.14c each. The Company will also be issued one free attaching unquoted option for every two shares issued which are exercisable at 1.5 cents each on or before 30 June 2020.

Non-Executive Chairman, Tony Sage, said “we are very pleased that this transaction has now completed and we wish CVS all the best in the development of the Paynes Find project and more recently the very high grade results from Albury Heath.” He added “to achieve further returns we decided to take more scrip instead of cash because of the potential upside in the latest results which in turn will further add value to European Lithium."

Expand

DLC's Malcolm Day bought EUR on the open market but the t.sage's EUR bought more CVS to further add value to EUR. And DLC owns 11 million shares of EUR. I am really confused as to what is going on here. Could I get some Unlicensed Advice from some board experts here? Old rdncoic is overwhelmed here for sure!

And the average poster on hotcopper is so much smarter than I......

DLC Price at posting: 0.6¢ Sentiment: Buy Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

ACW

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

AXP

Tambourah chases gold veins and mineralisation extension with drilling

MIN

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

WC8

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

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

There are more pages in this discussion • 1 more message in this thread...

First 26 Last

Add DLC (ASX) to my watchlist

DLC's Malcolm Day bought EUR on the open market but the t.sage's...

Top Stories

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

Tambourah chases gold veins and mineralisation extension with drilling

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

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

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

Featured News