What's The Vend-In Deal?, page-62

Was just looking through the history of the past payments from BXC in relation to the Akoase sale.

The agreed payment schedule was:
- USD 2 million - already paid in 2016
- USD 1 million to be paid by 31 May 2017
- USD 2 million to be paid by 30 June 2017
- USD 3 million to be paid by 31 December 2017
- a further USD 2 million via royalties from production.
Each payment date is subject to a 30 day buffer before ARL/BXC Ghana are considered to be in default and penalty interest applies.


The actual payment dates:
- USD 1 million to be paid by 31 May 2017 -- received on 30 June 2017 [30 days late, although still within the buffer period]
- USD 2 million to be paid by 30 June 2017 -- $1.5M received on 18 July 2017 and the remaining $0.5M a few days later [49+ days late]
- USD 3 million to be paid by 31 Dec 2017 -- 67 days late so far and still waiting...

From the history we expect BXC to pay up eventually, but they have really been taking their time. One would hope that we'll receive the $3M any day now.