Win win for CXX - they look to be coming again for it...
D e c e m b e r 2 0 1 8 Q u a r t e r l y R e p o r t
As previously advised, the Company and Tremont are in dispute regarding whether a definitive feasibilitystudy has been delivered within the meaning of the Shareholders Agreement. The dispute has beenreferred to arbitration. The arbitration hearing is currently scheduled for March 2019. Cradle’s positionremains as set out previously. Subject to the outcome of the dispute, if the definitive feasibility studywhich has been presented is accepted as a definitive feasibility study within the meaning of theShareholders Agreement the parties will then consider whether to proceed with construction of a mineto carry out mining activities on the Project ("Decision to Mine"). Any Decision to Mine on the Projectwill require Cradle to provide funding to PHT based on its pro-rata shareholding in PHT or dilute its Page 3 of 8interest in PHT based upon a value of such interest of US$20 million plus contributions made by Cradlesince October 2015, which is currently approximately US$3.4 million.
CXX Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
