GREY:MAAFF - Post by User
Post by
Risktaker7on Feb 01, 2010 8:12pm
447 Views
Post# 16741792
Good to go
Good to go I veiw this as good news to find a partner with finaces and skill in developing a large scale potash mine. In my veiw it is a partnership with the end result being that Mag Industries will end up with a 39.9% interest in the project ,govt of Congo with 10% ,and Complant having 50.1% interest and they will finace the 1.2 billion of the EPC costs. They only have 50.1% interest in Magminerals and this project ,not Mag Industries.For example ,Mag minerals will have the rights to extract magnesium from the waste stream from the production of the potash if they decide to build a plant adjacent to the project.
The reveiw time period is a good thing because they can lower costs in the project in many ways such as having connections with suppliers and contractors etc. The one thing that is not clear yet is the "formula" for the portion of the production going towards debt. The clock is ticking for Complant.
Risktaker7