RE: RE: RE: Largo Resources Closes Private PlacemePangloss...... Why? Because neither Vale or ODB are interested in mining Maracas.....
Anyone who has talked to IR or Mark in the last month and asked the right questions knows that Largo is still talking to Vale and ODB and that getting the additional 40% (with 4.5% going to their partner MFNB) isn't dead in the water just because of the missed payment....
If Vale and ODB don't want to mine it, its in their best interest to get the operator producing so they can participate in profits off their remaining interest.
From what I have heard, if Largo can raise the CAPEX funds (approx $220MM) they can move ahead with construction on their own and that after production commences, Vale/ODB would be on the hook for their portion of the CAPEX before any profits were sent their way or profits would be kept by LGO until the CAPEX was paid up..... all this is with their current 45.6% ownership. If they can negotiate even more ownership, all the better.
lurk