FQM JV11 Dec 2024 12:10
Remember Patrick’s comments on the FQM joint venture, they have to prove there is $700 million worth of copper to get the JV:
"If exploration is successful, we stand to benefit from First Quantum's US$2.1 billion investment in the Trident operations and the joint venture earn-in terms have been tied to specific mineral resource and mining decision milestones, rather than specific exploration expenditures. The bar is set high, consistent with the large size of the Sentinel mining operation and the agreed terms require First Quantum to define a copper resource with an in-ground value of over US$700 million at today's copper price, before it earns any interest in the project.