In addition to the Denham Capital news the other day....some more interesting points from the HY...
Notwithstanding this, the Board remains of the view that the Panda Hill Niobium Project is a world class asset and will be the first newniobium producer in over 40 years.
Notes:1 During the period, the Company’s joint venture partner sole-funded certain expenditures of its joint venture company, PHT, totaling A$268,870, of which A$134,435 (being50% of the expenditures) is deemed to have been contributed by Cradle and has been recognised as a gain through profit or loss. The Company continues to own 50% ofPHT.
Any Decision to Mine on the Project will require Cradle to providefunding to PHT based on its pro-rata shareholding in PHT, or dilute its interest in PHT based upon a value of such interest of US$20million plus contributions made by Cradle since October 2015, which is currently approximately US$3.5 million.
The word "dilution" rings loudly....
IMO, all in preparation for the inevitable takeover by Tremont (who clearly still want to get their hands on this). Will be interesting to see what the final price will be....
CXX Price at posting:
10.0¢ Sentiment: None Disclosure: Not Held
