GREY:ADEXF - Post by User
Post by
hundredvanities1on Jul 27, 2012 2:17pm
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Post# 20160131
West Melville now trading
West Melville now tradinghttps://westmelville.com/
The new boys on the Nunavut block. Just completed a $5.5 million IPO. Also optioned Melville Peninsula property from Roche Bay plc. Negotiated a 0.5% royalty on iron ore (higher on precious metals). How did AXI end up with a 6% royalty rate for iron ore concentrate? This Gingerich is the worst negotiator on the planet.
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FS study: I believe they've had a draft of the FS study since Q1. But project is subeconomic because of arctic diesel costs (adding to both capex and opex). Therefore lots of scrambling around trying to sign deals with Nunavut government or large energy companies to explore the remote LNG option. They want to announce an energy MOU along with the subeconomic FS results, to give the market hope that costs can be lowered. Hence they will hold out until Tuesday for the MOU, then announce a delay if a deal can't be reached.