GREY:DULMF - Post by User
Comment by
goldsternpon Jul 06, 2014 5:35pm
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Post# 22719645
RE:RE:RE:RE:RE:What Anto had to say
RE:RE:RE:RE:RE:What Anto had to sayMost of you seem to know more about mining issues than I do so I would like to hear what you think.
The agreement says
"Antofagasta will provide US $130 million in direct funding to the project for its 40% interest in the joint ventur - Thereafter, if Antofagasta elects to proceed with the further funding of the project and to maintain its 25% Option, Antofagasta will disproportionately fund 65% of the joint venture expenditures and Duluth will fund 35%;
Seems to me that Anto is unwilling to unwilling to provide further funding and therefore are releasing their 25% option as agreed ?
The upcoming report is a PFS and not a BFS so it seems that the 25% Option issue is not relevant to the upcoming report but it would be if there is another round of financing needed.
Looks like we might be in casino mode for a while ?
Good luck