RE:Do we really need Osmose at this point?$23.5M buys 45% of Piskanja, making it worth around $50M !
Average annual earning = $91M.
Back-of-the-envelope....Osmose will end up making 20-30 times their investment over LOM !!!
If Osmose would fork over their entire contribution today, they'd have a 6-year wait before recooping their entire stake (with interest) and then get major free money for at least 15 years.
IMHO, Not sure what's the rush now that BONE has paid up to the submission of the Part 2 documents Why not do PPs to get the mining design approved and then, with 1 year or so away from production add a partner to pay for part of the CAPEX. How much of a stake in Piskanja would $23.5M buy then?