The substantial benefits of ODY Buyout Whether it's WestGold or not.....there are several others in the same need for cheap oxide open pit deposits..it has to be admitted that ODY does not have the funds or other necessary resources to quickly advance Turnakura to production.
ODY will have to pay 80% of such costs and MMY 20%.
ODY has done its job.
It has demonstrated that Turnakura is a Diamond in the rough , with sufficient high grade oxide gold open pit resources needed to resume mining already, with the HighWay zone barely drilled but showing in addition the existence ...no surprise there..of the high grade source lode just below the open pit.
But it's ability to fund the development of Turnakura to open pit production may be limited.
Thats why a profitable buyout at 2.5 times the current price might take the Turnakura JV cake
Which, as previously expressed, enter a fully funded senior like WestGold with its own drilling company and mining company and loaded with cash needed to accelerate Turnakura to production will be a major material event for MMY .
We still pay only 20% of the development costs but , importantly , our Murchison assets are finally on the monetization map.
Currently, those assets contribute Zero Dollars to our market cap .
Plus we finally get our AUX listing and can add our own Murchison assets to an enlarged JV .
This makes eminient economic sense to the extent that such a move would be expected rather than ignored by Dato .
In all probability, this is why our Murchisin FS is being updated, after a lapse of many years
And, we now have the cash flows to fund our 20% ...