Can someone give me some "Unlicensed Advice" here as to whether I should buy some more shares of CVS before the SP "GOES TO DA MOON" based on the "Professional Advice" given in the news release below? U know the deal, just your "opinion" on the stock. Sort of like if I buy more will it add further value to me Depot?
“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."
European Lithium banks on gold upside of Cervantes as it lifts stake to 8%
10:46 06 Jul 2018 Sale of the Paynes Find Gold Project has been settled with scrip agreement for remainder of cash transaction.
http://static2.*.com.au/thumbs/upload/Article/Image/2018_07/757z468_1530838442_Gold-shutterstock_635578745.jpg Cervantes Corporation has received bonanza grade gold results from recent drilling European Lithium Ltd (ASX:EUR) (FRAF8) (VSE:ELI) is banking on the gold strategy of Cervantes Corporation Limited (ASX:CVS) by securing an 8% stake in the explorer.
Cervantes has received bonanza grade gold results of up to 202.8 g/t, 129.3 g/t and 49 g/t from its Albury Heath project in Western Australia. READ: Cervantes Corporation surges 143% on bonanza-grade gold results from Albury Heath
The upside represented by the gold explorer encouraged European Lithium to take more scrip instead of cash from finalising the sale of its Paynes Find Gold Project to Cervantes.
This transaction has settled with total consideration comprising $500,000 cash, of which
$420,000 has been received, and $500,000 in share consideration, also received.
The parties have agreed to settle the remaining cash consideration payable of $80,000 through the issue of 7 million Cervantes shares at an issue price of 1.14 cents each. READ: European Lithium chairman buys more shares
European Lithium’s non-executive chairman Tony Sage said: “We are very pleased that this transaction has now completed.
“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. “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."
European Lithium 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 June 30, 2020. READ: European Lithium passes first stage of EU funding program for lithium technology
As well as being leveraged to Cervantes, the Paynes Find transaction has provided European Lithium with valuable funding with which to fast-track its flagship Wolfsberg Lithium Project in Austria.
The company’s increased position in Cervantes is already showing positive signs as shares traded at up to 1.7 cents on the back of the Albury Heath results.
Sort of like if I buy more will it add further value to me Depot?
