RE:Another JV and more revenueGood news flow, terrible share price performance. Nuff said
maryhill wrote: The government in Columbia allows the indigenous people to sell mineralization without any permits and Auxico has the contracts with Cuex for such minerals. This is a great deal as all Auxico has to do is front a little money and get a 70% return.
For every ton sold, this equates to $7000.00 back to Auxico
100 ton X 7000 = $700k per month
1000 ton X 7000 = $7 million per month
signed a joint-venture agreement for high-grade tin trading operations in Colombia, which provides the Company with a 70% profit share on all sales of tin ore executed with Gracor S.A.S. ("Gracor"). This agreement represents a significant amount of tin and potentially a new source of sustainable revenue for the Company, with the objective of exporting a minimum of 100 tonnes per month of high-grade tin at average grades exceeding 65% tin content, which could potentially commence as of the end of December 2022. The 3-month bid price of tin per tonne is ± US$18,400 on the London Metal Exchange, effective October 26th, 2022