The concealment of the buyers identity is very interesting?
Who are these masked men that are so certain that CVY are going to become a gold producer that they have paid $3.1 million for a 1% Cameron Smelter Royalty?
And have they paid so much to ensure nobody else gets it?
Why?
Today's ann:
'SALE OF ROYALTY ON CAMERON GOLD PROJECT
Coventry Resources Limited (ASX:CVY; “Coventry” or “Company”) wishes to advise that it has granted Nuinsco Resources Limited (TSX:NWI; “Nuinsco”) consent to proceed with the sale of its royalty interest in the Company’s Cameron Gold Project to an unnamed third party for C$5.1 million.
When Coventry acquired 100% of the Cameron Gold Project (“Project”) from Nuinsco in April 2010, Nuinsco retained a 3.0% net smelter return royalty interest in the Project (the “Royalty”).
Coventry retains the right to buy back 2.0% of the Royalty at any time before 20 April 2015 for C$2.0million cash or by issuing C$2.0 million worth of Coventry shares. For and on behalf of Coventry Resources Limited
Michael Naylor Managing Director & CEO'
CVY Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
