away with the fairies6 Jun 2022 00:54
It's like reading the chat forum from about a year ago, all over again....when we were first discussing some of these issues. Either peeps have simply forgotten what was posted, or have 'popped in' without doing any homework on what was previously said about such items.
I'll Précis some of what has already been said, to "refresh" our memories:
5% fmv: If/when it goes to arbitration, the Valmin code WILL be used. It will be accepted by both parties as THE authoratative means to an end, namely that the arbiter will assess both fmv figures from NCM and GGP and he/she will decide on one or the other. There will be no middle ground figure. Both parties WILL agree to this figure if the transaction is to proceed and NCM will have 30 days in which to prosecute the deal.
Mine output.
For the first 5 , 6, 7, (however many) years, there will only be ONE mine. It will be a SLOS mine. NCM have already confirmed that its minimum output will be 3Mt/yr for approx 11+ years. They have also confirmed in print that the average output will be 319kozAu/yr.
If a gold mine is projected to contain 20, 30, 50Moz Gold, it means over its lifetime - not immediately, from day 1. Output will vary from year to year and grade to grade. Telfer can only accomodate 11mt/yr per train at the processing plant. If more ore is produced then the plant will need to be expanded at a significant cost. I also fully expect NCM to attract other customers from the Paterson through Telfer - not just GGP. So Telfer won't be just for Hav.
SD isn't worried about the fmv for the 5%. It is what it will be and he has already prepared the way financially on completion. If the 5% falls short - so be it, he will borrow more and the banks will lend it to him. He simply wants it behind him now.
NCM won't 'disguise' 'jeapardise' future resource results which will damage NCM shareholder confidence in what NCM has @ Hav. There will be shennanigans en route but NCM will do what it needs to do @ Hav to keep its s/h's happy. $480m already spent speaks a thousand words!
On Thursday this week - more news from GGP, which will simply apply more pressure to the SP.
At the end of this month, NCM will have completed a further 40 kilometers of drilling since December. Think about that for a second? They will add this to their next MRE(2) in August 30th. We are out of the permian layer and into country rock. Watch Byrnecut fly!
We are smelting gold in 20 months! EVERYTHING in between is M.U.D.
(Miscellaneous Useless Data).
Now is there any chance we can talk about 'new' stuff? Please? Pretty please? ;)
Z
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