RE: cash25 Jun 2020 21:54
@Stebol
"Reasonably soon TMT? Assuming we hang on in there until Haveiron is mined then you're looking at 2 years from now minimum."
I don't disagree with your view, you misunderstood mine. The MRE will happen this year. Once the MRE happens, we're going to have access to plenty of cash to drill Scal ourselves, either from sale of part or all of Hav, or from loads of debt financing which will be available to us if we still own 1/4 of Hav.
We don't need to do a farm in with NCM or anyone else to do the drilling and find out what we have. Of course we should do a JV with NCM (or possibly Rio) to mine Scal, I wasn't talking about that. I'm talking about not just rushing into an expensive farm in / JV on Scal now just so we can get the drills going immediately.
If NCM offers a more equitable JV for Scal than they did for Hav, by all means, let's get going! If not, well, let's use the resources we have to drill it ourselves, find Hav x 4, and then go back to them and see if they want to make a better offer.
I don't see GGP ever becoming a major, of course not. I do see us having the resources, because of Hav, to expect and get better deals on any major finds in future, and I certainly hope we'll not settle for the same deal again. And if that means we have to wait for the MRE to start drilling Scal, I'd rather wait. (I don't know if it means that. But I don't agree with the idea of "just get NCM to do it." That depends entirely on what kind of deal they offer.)