A little bit more information about why I am going the DLC back...

A little bit more information about why I am going the DLC back door investment here. DLC is cashed up, owns a producing oil well, has cleaned up the DELECTA cash flow cow, and based on the information from the ASX below, is going to be the big boy in Lithium production. And has a 15.1% holding of PNE. DLC/PNE will still have the gold and mineral contracts for the PAYNES FIND GOLD mining areas and last but not least, GOLD IS GOING BACK UP and will allow PNE to cash in on the gold still in the ground in the PFG mineral contracts.............When gold goes up, it can make the difference between mining gold losses and mining profits. THE MORE YOU KNOW THE MORE YOU CAN PROFIT!

And who will own the LITHIUM Company if the deal goes through?

Paynes Find Gold Limited (ASX: PNE) (Company) is pleased to announce it has entered
into a binding terms sheet pursuant to which it has agreed, subject to satisfaction of certain
conditions precedent, to acquire 100% of the shares in European Lithium AT (Investments)
Limited (Company Number 162395) (EL) the ultimate 100% owner of ECM Lithium AT
GmbH, a subsidiary entity of European Lithium Limited (Company Number 1629378) and,
the 100% owner and holder of the Wolfsberg Lithium Project in Austria from the
shareholders of European Lithium Limited (Acquisition). See corporate structure Appendix​

A.

APPENDIX A – CORPORATE STRUCTURE POST TRANSACTION

PNE
(to be renamed EUROPEAN LITHIUM Limited) will own 100% of the below listed companies.

European Lithium AT
(Investments) Ltd

ECM Lithium AT GmbH
(Owner of Wolfsberg
Project)

ECM Lithium AT​

Operating GmbH

All of this will only happen if the deal goes through. But it seems to be a sure thing at this point. Exactly how much DLC will own of the new company is at this time unclear to me. But DLC will profit for sure..................................

​

0
ReportEditQuick replyReply with quote

PNE (ASX)

Price at posting:
8.3¢
Sentiment:
Buy
Disclosure:
Held​