OTCPK:NNDIF - Post by User
Comment by
ZincDink1on Feb 26, 2020 3:09pm
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Post# 30737162
RE:RE:RE:RE:RE:Reserves
RE:RE:RE:RE:RE:ReservesThey recognized a site rehab fund for a while now.
That 55 M$ impairment charge was a number drawn out of the rear of out Glencore CFO. Sure, there was some uncertainty over raw supply. Now, there is excess available and we still have had no reversal on the impairment charge.
Off the top of my head, they typically valued the plant ~ 250 M$. We added 20 M$ in improvements to handle dirtier concentrate, so I still can't understand why they get away with low balling the plant value. My suspicion is that it would allow GC to come in with a 50 % over the last closing price offer for remaining shares. Really though, why bother when GC can syphon off value at its own leisure.