A Bit on Coeur Gold1 Jun 2019 23:27
Para 2, in fact all of this is useful.
"Coeur holds 80% stakes in Vayk Gold and Vardani Zartong, which in turn own mining exploration rights in Azatek Mine and Sofi Bina Mine, respectively, in Armenia.
By spring 2018 (ie March), the mines are expected to start production -- without needing a massive capital raising through the RTO, said Mr Richmond.
"The most important thing is, this mine is fully ready, it's a shovel-ready operation," he said.
A multi-billion dollar mining company listed in London will operate the Armenian mines, take delivery of the ore and pay Coeur Gold Armenia accordingly.
The unnamed listco already has a processing plant in Armenia, which has spare capacity to process ore from Coeur's mine, said Mr Richmond.
With cashflow from the sale of the ore, and possibly loans, Coeur plans to build a processing plant of its own in future.
The cashflow is expected to be significant as the cost of production in Armenia is one of the lowest in the world due to established supporting infrastructure near mines, such as transport networks and electrical supply.......
In selecting a vehicle to inject Coeur into, Mr Richmond wanted management in place which would oversee and expand the business.
For that reason, a service agreement has been written into the term sheet stipulating that Dato’ Michael Loh, the chairman of Dragon Group, would serve as the Executive Chairman and CEO of the company for a minimum of 5 years from the completion date of the RTO.
Over the past 4 years, Coeur had been the subject of RTO attempts by Singapore listcos Albedo and Asia Pacific Strategic Investments.
Asked about the non-success, Mr Richmond said appointed advisers negotiated the deals and made decisions. He himself and the adviser to the current RTO attempt were not actively involved, unlike this time around"
https://www.nextinsight.net/story-archive-mainmenu-60/939-2017/11851-dragon-international-to-become-the-no-1-gold-play-on-sgx
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