Ok. I have just had confirmed (verbally) that the Milestone...

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KDoc

1,050 Posts.

29/03/16

16:48

Post #: 17375313
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Originally posted by KDoc ↑

Oh, FF.....

Read the acquisition details in the announcement;

Acquisition Details

Mining Projects has agreed that upon signing of the deal, it will issue 40 million shares. It will issue a further 20 million shares when the Tenement Area is granted and completion takes place. The shares have a deemed issue price of $0.005 per share on a pre-consolidation basis
.
Mining Projects has also agreed to issue the vendors “Milestone Shares”
if certain Mineral Resources in accordance with the JORC 2012 Edition Guidelines
of lithium are established within the Tenement Area. These will be issued as follows:

(i) 15 million shares (First Milestone Shares) upon delineation of a Mineral Resource in accordance with JORC 2012 Edition Guidelines of no less 1.2% contained lithium established by or on behalf of the Purchaser within the Tenement Area; and

(ii) 15 million shares (Second Milestone Shares) upon delineation of a Mineral Resource in accordance with JORC 2012 Edition Guidelines of no less than 10,000,000 tonnes of lithium oxide at a minimum grade of no less 1.2% contained lithium established by or on behalf of the Purchaser within the Tenement Area

WHERE is the mention of the (i) & (ii) 30M shares coming on a pre-consolidation basis?

Ergo, in today's language, that is another 360M shares.

Expand

Ok.

I have just had confirmed (verbally) that the Milestone shares in both acq. announcements are of a PRE-Consol nature.

Ergo,
for the Jan Annc. 8M + 8M POST-Consol (IF they strike it). And
for today's Annc. 1.5M + 1.5M POST-Consol (IF they strike it)

So, it appears I may owe @vendor an apology.

Apologies.

MPJ Price at posting: 0.5¢ Sentiment: Hold Disclosure: Held
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Ok. I have just had confirmed (verbally) that the Milestone...

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