("All Star" or "the Company")
The board of All Star provides its quarterly update.
Since the last quarterly update on
The Company continues to hold an investment in NQ Minerals plc (“NQ”), representing 1.92% of its issued share capital. As at market close on
NQ, an investee company of All Star, announced in February that the Company had raised £130,000 through the issue of 1,352,941 ordinary shares at 8.5p and 10p. The Company also announced that they had converted convertible loan notes worth £109,228 into 1,365,354 ordinary shares at a conversion price of 8p.
In March, NQ announced that a further £17,920 worth of convertible loan notes had been converted into 224,000 ordinary shares at 8p each. More significantly it was also announced that NQ had entered into a
Under the terms of the agreement, 30% of the first 8 million ounces of payable silver produced was to be sold to the Financier with 10% of the remaining total payable silver production over the lifetime of the mines silver production. The prices payable by the Financier for the refined silver is the lesser of
The silver agreement continues until all minerals are extracted from the
The Directors of All Star are responsible for the contents of this announcement.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014, and has been arranged for release by
NEX Corporate Adviser
020 7213 0880