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7th May, 2007 "Execution of Napperby Option Agreement"
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The legal framework for this agreement was 3 years,
and the legal binding date was from Announcement. 7th May, 2007
"Execution of Napperby Option Agreement".
Therefore, a decision WILL be made within the next few weeks from TOE management to further this project and purchase it from DYL.
Here are the Details As Per Announcement on 7th May 2007
* Should the area not be fully diverted to JORC standards by this time, 13.2 million pounds will be assumed.
* A reference against the spot price of 8% will be used OR capped between $6 pound and $4.5 pound. Current spot price by UxC is $41.50 and 8% of the spot price is $3.32. Therefore, if Toro choose to purchase this deposit they will still pay the lower bound of $4.5 per pound.
* The latest JORC from Toro which I could find was released on 3rd March, 2009 which equated to 7.39million pounds (using 200ppm cut-off)
* Therefore, under this agreement if TOE was to purchase Napperby they will need to pay for the 13.2million pounds at $4.50 per pound OR $59.4million. The agreement states this can be by any arrangement by cash or shares.
NEWS AWAITS
Early May 2010
Could be some good trading opportunity's Swing Trading DYL & TOE over the coming weeks .
7th May, 2007 "Execution of Napperby Option Agreement"
Clickable Image
The legal framework for this agreement was 3 years,
and the legal binding date was from Announcement. 7th May, 2007
"Execution of Napperby Option Agreement".
Therefore, a decision WILL be made within the next few weeks from TOE management to further this project and purchase it from DYL.
Here are the Details As Per Announcement on 7th May 2007
* Should the area not be fully diverted to JORC standards by this time, 13.2 million pounds will be assumed.
* A reference against the spot price of 8% will be used OR capped between $6 pound and $4.5 pound. Current spot price by UxC is $41.50 and 8% of the spot price is $3.32. Therefore, if Toro choose to purchase this deposit they will still pay the lower bound of $4.5 per pound.
* The latest JORC from Toro which I could find was released on 3rd March, 2009 which equated to 7.39million pounds (using 200ppm cut-off)
* Therefore, under this agreement if TOE was to purchase Napperby they will need to pay for the 13.2million pounds at $4.50 per pound OR $59.4million. The agreement states this can be by any arrangement by cash or shares.
NEWS AWAITS
Early May 2010
Could be some good trading opportunity's Swing Trading DYL & TOE over the coming weeks .
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