GREY:NUSMF - Post by User
Comment by
kroghon May 30, 2006 12:10pm
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Post# 10921498
RE: news on the web site.
RE: news on the web site.The way I understand it, Barrick has a 40% interest with the option of acquring 35% extra by fully funding the project through the next stage.
The deal is only for gold rich concessions, and includes all base metals in gold rich concessions. In other concessions NUS has kept full ownership. So copper found together with high grade gold belongs 75% to Barrick.
This limits upside of course, but provides a lot of funding which reduces the need for dilution.
Roulston writes that he thinks they are working on restructuring the deal, possibly by Barrick taking ownership in NUS in return for giving up the 40+35% interest. Barrick's ownership should be much less than 75% because of the base metals and the technology. Part of the strength of NUS is that they are a technology leader. It is not just the current concessions. We will see.