I just realised hidden in this qtrly is BRL have exercised their 2nd tranche of funding option and have begun making payments. This is great news as the C$7.5M will fund the BFS. As stated in the annual report C$7.5M buys BRL another 12% of Crown Mountain which at today’s share price of 17c values the total project at C$62.5M. Based on current exchange rates this = AUD$65.6M. JAL’s market cap is only AUD$45M and hence BRL is paying a 1.45x premium for their 2nd tranche of funding @ approx AUD$0.24 per share. It makes the current share price of AUD$0.17 seem rather cheap.
Ann: Quarterly Activities Report, page-2
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Mkt cap ! $34.20M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 51000 | 5.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 7.0¢ | 100000 | 1 |
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