RE:RE:Why JVOk...lets look at what Brian said
There is $200m cash in bank as of that talk. $50m is being set aside for Gib operating capital
That leaves $150 that can be used for Flo....another $80m needed to fully fund.
Flo is likely only going to start const early second half this year(hopefully)
Gib must be making some bank $$$ for the first half of this year..yes?
So the 150 + Gib earnings + maybe part of that 50 operating capital should easily give 100% of Flo before construction starts...and Gib should be making some very good bank $$ this year...yes!
So I know everyone is very adverse to unecessary risk....but if we can pretty comfortably fully fund Flo before construction starts....with Gib still earning all through construction??? do we really need the jv??
And one of the really big knocks on any further dilution of shareholder value in shares or earnings going forward is the reality of the pissant valuation realized in the not long ago pp.
To say share value will increase with a jv sale and dilution....of our lowest cost asset, it better have fantastic terms for TKO, and even then it is a little short term gain for life of mine earnings dilution.
Just saying...