Post by
nozzpack on Jun 22, 2024 6:52pm
The Pine Cove Mill is existential to NFG
With the ESG requirements requiring the use of existing processing facilities, with NL Govt forbidding processing of NL metals outside NL, and there being no other source of gold milling in NL, the Pine Cove mill is an existential asset for NFG either by toll milling or outright tajeover .
The funny thing is that the MOU is not binding on Maritime.
Mac has kept his options open .
Firefly metals does not have sufficient milling capacity at its copper floatation plant at Nuggett Pond to achieve its goal of becoming a mid tier copper producer from its Ming Mine which is adjacent to the Pine Cove mill .
Alteady, Firefky has negotiated a deal with Maritime to use its Deep Sea Point Rousse port and storage facilities for its copper concentrate production .
The Pine Cove mill has a copper floatation plant and Maritime's Nugett Pond mill is jointly owned by Firefky and Maritime and capable of running in parrellel with Fireflys copper plant.
And Maritime will soon be a gold producer and other advanced Copper and VMS assets...an essential asset to offset the cyclical volatility of copper prices of Firefky .
ES now has a starting position in Firefky, Firefly has a starting position in Maritime and ES has positions in both Maritime and NFG.
So exciting times ahead for Maritime Resources..