GREY:KSKTF - Post by User
Comment by
oddykogon Dec 02, 2009 11:27am
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Post# 16545239
RE: RE: Quarterly results
RE: RE: Quarterly resultsNo, I don't think the terms are different, but I don't know that there is a timetable for Kennecott to do anything beyond paying Kiska the $20 million. A company that size could easily pay the $20 million and take their sweet time to move on to spending the money for the development. They have control of the project with 51% and all we have is a minority stake reliant on Kennecott's plans and ours being the same. Having said that I must admit that I have not seen the detailed contracts, so my interpretation may be a bit different from that in the fine print.
On the other hand if they pass on the project next year, we own the Whistler rights with only a royalty payable and WE get to decide with whom and when we move on with the project.
What I am saying is: $20 million in cash is nice, but a large viable mine is even better.