So now what after the DFS is such a winnerSo it sounds like even though the DFS is resoundingly positive, we have too wait for the JV management committee too review the DFS and then approve it. If approved then the 90 day take it or leave it is put too Sibaneye.
So step #1:
The JV team has too make the decision too go too production:
Step #2 :
Sibaneye then has 90 days too decide what they will do (aka) increase their percentage or what.
Step #3;
Get financing?
So this may end up being oh my guess is it could take about maybe July 1st at the latest for a definite answer as too what Sibaneye is gonna do!
That is my guessing! As that is all it is a guess, because its beyond me what or how Sibaneye sees all of this. Wish we had some Flies on the wall, or some kinda secret listening devices in their offices. (Sibaneye"s offices) Too know what they are cooking up!
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The Feasibility Study has not yet been approved by the Joint Venture management committee and Sibanye-Stillwater and as a next step, Sibanye-Stillwater and the management committee are planning to review the Feasibility Study.
Upon Gen Mining completing a definitive feasibility study (the “DFS”) and making a positive commercial production decision, so long as Sibanye-Stillwater has a minimum 20% interest in the Property, then Sibanye-Stillwater will have 90 days to increase its ownership from 20% to a total 51% interest by, within 90 days of the Commercial Decision Date, agreeing to fund 31% of the total capital costs as estimated in the DFS, after which Sibanye-Stillwater and Gen Mining will contribute the remaining funds on a 51%/49% basis
Upon completion of the Feasibility Study and a positive production decision, Sibanye will have certain back-in rights that can bring its interest to 51% (see the Company's press release of July 11, 2019 for more details.
https://genmining.com/news/2019/generation-mining-closes-marathon-pgm-property-acquisition/