GREY:CCNMF - Post by User
Comment by
grizzon Aug 20, 2012 4:19pm
251 Views
Post# 20238952
RE: RE: RE: you don`t get it
RE: RE: RE: you don`t get it Our interest is a netProfit interest. Therefore costs are a major influence. The 25% holdback is to protect HBM against a possible miscalculation of the Qly profits from the 777 mine. This is perfectly rational and very common.
Grant Thornton is auditing several years of profits at the mine as a result of a lawsuit launched several years ago.CAA believes we have been underpaid over the years.'
The London gold fix is not an estimate and forward selling is not involved . It is the actual price used to calculate the revenue as per the NPI contract signed many years ago and still operating.
Have to go now but will answer more questions if needed.
BTW you could call the CEO Roland Butler at 1-709-535-3433.
Grizz