RE:RE:RE:RE:RE:RE:RE:TD Moves PT to $1.25
Yeah - this is kinda the problem. So Cuba is the JV partner (through a state owned company 'General Nickel') AND rules the jurisdiction / sets royalty and taxes... So you kind of see that the partnership is definitely not equal. Which is why I have been stressing out so much about JV dividends which I had hoped we would've heard an announcement this quarter but we haven't. There ought to be oodles of cash sitting in the JV. Cuba however has a hard currency crisis at the moment. So I suspect they in a sense are using this as a foreign reserve cushion. They are not meant to be. So yes whatever equation you are using, we should be barfing out cash right now. More than enough to pay for this 20% output expansion and retire significant amounts of debt. For example the national Bank note accurately stated we could be debt-free and 12 months. tons and tons of cash being generated. Where is it???
The Corporation indirectly holds a 50% interest in the Moa Joint Venture. The operations of the Moa Joint Venture are conducted among three companies. Moa Nickel S.A. owns and operates the mining and processing facilities located in Moa, Cuba; The Cobalt Refinery Company Inc. owns and operates the metals refinery located at Fort Saskatchewan, Canada; and International Cobalt Company Inc., incorporated in Bahamas, acquires mixed sulphides from Moa Nickel S.A. and third parties, contracts the refining of such purchased materials and then markets finished nickel and cobalt.