RE:RE:RE:RE:RE:Prelude to a bidding warOne JV pssibility would be as follows:
- Spin off Lamaque South to make it a 100% subsidiary, just to separate it from Lamaque North.
- Form a 50-50 JV with ELD (since it's been a good partner with the drilling of Triangle, etc...)
- ELD to carry all cost up to production, icluding further drilling to prove up the deposits, all reports such as Technical Report, PEA, PFS and BFS, and the cost to build the mine (shafts and all).
It should be noted that ELD can finance itself for additional exploration (say $40M), all reports ($10M) and the mine building ($100M?). Total cost for ELD: $150M plus the next item, the 15% for $40M = $200M for 50% of a 4Moz mine.
- ELD gives back its 15% ICG holding to ICG (worth around $40M). ICG could turn around and sell that to someone else later (like G?) at a higher price for funding the development of the Deep, etc...
- ICG would contribute the mill and tailings for the JV for a consideration of 5% (negotiable) NSR.
- All the available permits in ICG possesion, realting to the JV operation.
Sounds fair enough for a potential 4Moz deposit in Lamaque South?
GH