GREY:OLEPF - Post by User
Comment by
geezer21on Jul 05, 2013 12:12am
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Post# 21590167
RE:Director's Circular- July 4, SEDAR
RE:Director's Circular- July 4, SEDARWhile there maybe three companies out kicking the tires I am not so sure there will be a taker. There are a number of negatives that might deter others.
The 25% Senegalese back in, Benton International as a partner or as a difficult company to negotiate with as they may be attempting to leverage their interest beyond what is acceptable to offset problems with their sands project, the location risk in West Africa and lack of infrastructure, artisanal mining issues, relocation issues, current market conditions where miners are money conservation mode, and a scarcity of funding.
On the positive side the deposit grades and size are good.
A merger is a win-win situation but Benton wants to extract as much as they can from a deal on their way out to help with their sands project.