PINL:VITFF - Post by User
Comment by
givemeabreak1on Aug 18, 2024 7:29pm
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Post# 36185249
RE:Now Coffee wants out!
RE:Now Coffee wants out!More nonsense posted ie now Coffee wants out lol! Newmont discussed dumping it for about a year and finally about 6 months ago announced wanting it, Eleonore in Quebec and other operations sold.
That decision has nothing to do with Eagle issues. That said, I am sure they are going to take an even bigger haircut if and when it gets sold than they expected because of Eagle...........
On a side note Mount Polley costs for clean up seem to be all over the place. Initial cost, as I recall was 70 plus million by the company through reclamation bonds etc and another 40 million in tax rebates. Some say total cost to date and continuing will exceed 600 million. The company has actually beed doing a really good job doing ongoing reclamation and has done alot of good stuff I have no idea on how they are costing the expenses I will leave that to an accountant.
Sort of gives you an idea of where the costs might be! It also tells you that there are certain thing you need to do immediately and other clean-ups and reclamation that can be done over years of operation but they do have to start operating again and I think they will.......However, it will not help shareholders much if any but I do suspect secured debt holder depending on how a deal is structured will recover most of their money!