RE: RE: RE: RE: RE: RE: RE: RE: News OutHi Ank. I think the $500k financing is becasue they still has some flow through room in 2008..... I'm thinking they crunched the numbers for the year and saw they had some flow through room left becasue they spent more on ND than thought so they found someone to take it IMO. Mineralfields is investing $500k so thats not enough to providing working capital for 8-12 months so they do still need the $3MM if they want to do any work on ND on top of keeping the lights on.
On the 50 cent buyout thing, I do think thats a stretch right now just because of the overall market. Maracas is essentially in the hands of MFNB right now. They hold the balance of power on the project..... I'm talking about just a cash deal for Maracas from Vale and I think it would be around $20MM for their 45% stake. That would give LGO 8-10 cents per share cash and still have ND..... It really depends on which way Maracas proceeds.
Yes new ND resource estimate and scoping study should give us a bit of a boost.
Shareholders should be calling the company next week and should be asking for a statement on what Largo's direction will be on Maracas from this point forward. They owe shareholders more info re: operator status and what the plan is going forward......
I'm am also dissapointed they couldn't get the $5MM. Seemed like an easy deal if they wanted to do a deal with Xstrata or Glencore etc.... Dissapointed in Mark for not getting it done.. Not to say he didn't try.
lurk