RE: RE: RE: RE: new here 1. There was no possibility of a mine ever being built on Lumina's claims
before the JV. Which is why it has not been taken over yet. But now it can.
Please expand on this statement. Why does a major mining company want to buy
Lumina with a 50/50 JV with Salta. Don't they need the whole resource for
themselves? They will still have to buy the remaining 50% of the claims from
Salta. Why doesn't the major that buys Lumina just buy the claims
from Salta as well. What does the JV change from the major's point of view.
Did Salta even get a single dollar from Lumina for this JV? Or is Lumina just
funding 50% of the expenditures?
2. There is still nowhere for tailings. I doubt that Lumina's management will
ever tell you that. Just as they wouldn't tell you that a mining operation was
not feasible prior to the JV. Lumina has never been interested in setting up a
mining operation. They could not care less about setting up a mining operation
which is why they have not given it any consideration. But I can tell you that
the tailings is no big deal because you can transport the tailings to an
offsite claim as long as you have the infrastructure. It just adds additional
costs to any mining operation. No location for tailings is not a reason to
assume the end of the world.
Even though Lumina isn't going to mine the deposit themselves, they still need
to sell a mineable deposit. They cannot ignore any aspect of the mine, because the
majors will not buy the deposit if there are no places for tailings.
3. There is no infrastructure on Lumina's claims to transport any ore out of
there. Actually, they've already told you that. But either you haven't noticed
it or don't want to notice it. And then there's gravity. But ofcourse Lumina
has the powers of Superman and gravity has never been a problem.
If the infrastruvture could not be put in place, they wouldn't bother drilling
the deposit. You assume that Lumina's management are total idiots. The
infrastructure can be outside their own claim. As we talked about in earlier
posts, exploration claims do not give the holder the right to block access
roads and tailings. The government will decide this in the end, and there is no
reason they should not allow infrastructure. Again, you are implying that Lumina's
management are total idiots.
This JV is a massive lifesaver for Lumina and Lumina doesn't have the courage
to admit it or even publish a timely press release to acknowledge it.
There is also the simple possibility that they do the JV to expand the
resource, and they do not consider the agreement with Salta to be life changing
and worth a news release. But this comes back to my question of why the JV
would be life changing as regards selling Taca Taca to a major.
4. Lumina's board clearly did not appreciate the severity of the situation
because they continuously promoted the idea that they could be taken over in
the short-term. Not before the JV they couldn't. They can now. So either they
were selective in what they were willing to tell you (i.e. limited disclosure)
or they had no clue. You can choose what suits you best. Either way all that
takeover talk was nonsense up till now.
How do you know? There could have been take over talks that stranded on the
acquisition price or on the political risk in Argentina. Did your source tell
you that the majors told Lumina that without a JV with Salta we are not
interested? My guess is that your source is from Cascadero, and how would your
source know the details of the discussion between Lumina and the majors? Maybe
Lumina even had a bid around $14 per share a few weeks ago when the share price
went up to almost $12, but Lumina wants more.
5. I have never said that Lumina had too much debt. All I have said is that
Lumina had debt and Cascadero did not. I also said that Lumina couldn't afford
to buy Cascadero as so many of the bulletin board members have claimed which is
a total pipe-dream.
If Lumina thinks that Cascadero's claims could make or break Lumina, why
wouldn't they try to buy the claims from Salta. When you look at this JV, where
Salta basically gave 50% away for free, it is hard to believe that they
wouldn't have sold the claims for $20 million say to Lumina. and Lumina could
easily raise that money, or simply pay in Lumina shares.
6. Almost all of you point-blank ruled out the possibility of a JV with Salta
and quite vehemently and most of you still can't believe it.
No, a few people probably ruled out a JV, but not almost all of us. And why
would people rule it out? You make so many statements, and you take
disagreement with any one of them to mean disagreement with anything else you
say. It is quite normal to agree with someone on certain points and
disagree on others. The world is not so black and white as you are trying to make
it.
7. "Lumina has done all the good work." It's easy when you've got a flock of
investors who bleat like sheep as to how wonderful the board at Lumina are,
because of earlier successes, and throw money at Lumina as though it is a
foregone conclusion. Well now it is a foregone conclusion. You've got the JV
that will make the difference but you still have no idea why. But you can now
resume your bleating.
Yes, Lumina made this Taca Taca region (in moderne times at least), and
Cascadero is just being carried along. Raising money is part of the work.
8. What has Cascadero actually done to add value to the project. It has carried
out some exploration drilling but obviously Taca Taca was not its priority.
Cascadero has JV'd with Lumina. That has added value to the projects for both
Lumina and Cascadero. And more value to Lumina than any Lumina shareholder will
ever appreciate because Lumina will never tell you why. Salta has got 4x more
land claimed in the Taca Taca than Lumina. Not twice as much -> Four times as
much. Three times as much is adjacent to Lumina.
Cacadero has carried out some drilling after Lumina had success or what?
You are right that there could be much more metal on Salta's claims. Who knows.
That is why drilling is important.
9. Lumina didn't deviate because they thought that the copper pickings were
better outside Lumina's claims. If you ever made any effort to look at Salta's
exploration results they have more interesting molybdenum resources than copper
resources and molybdenum has often been three times more valuable than copper.
Salta has also got better access to infrastructure than Lumina. Salta has also
got much less environmentally protected land on its claims. And has richer
pickings of silver and gold. The Salta resources are worth more than Lumina's.
Only you won't believe it before you see the full exploration results. That's
ok with me. Believe what you like.
What does Salta believe? Why even JV with Lumina. They just gave away a lot of
their value or what? Why doesn't Salta contact a major and sell them a property
that is much better than Lumina's for a fraction of the price.