A tad confusing seeing that it states 30days from title agreement yet title agreement expected in coming weeks.. so that means 30days after that ?
But isnt title agreement the actual done deal ?
Anyways..
These two projects.. nobody on asx or lse/aim has as good a set of cobalt projects such as this..
Quite possible for tar net 200k tonnes cobalt resources by end of 2019... mainly selffunding drilling as well..
Me thinks the extended agreement timeline is due to fact that original agreements in place did not really cover the smallscale mining part..
As things stood, tar had to pay 2mill usd at due diligence end with those further 20mill after a 200k +tonne cobalt resource outline etc with locals being fully freecarried for their 40% until financing development phase of largerscale mine..
However, now it looks like smallscale mining is realistic upcoming first action.. meaning locals 40% freecarried ? Or ?.. i think there is scope for tar to freecarry the locals costs for smallscale mining but to then recoup those freecarried capital costs directly from the profits..
Or hopefullu the original 2mill usd payment due at end of due diligence, possibly thrown into that mix..
Ie; that 2mill usd payment could be forgone as locals 40% or so capital cost equivalent due from them for smallscale mining etcetc...
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- Ann: Extension of Due Diligence period
Ann: Extension of Due Diligence period, page-9
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