Evolution Mining would buy 80% of NILI (per track record)...Old Habits Die Hard, so if you want to do what Evolution Mining will do with NILI, you will have to look back to what it did in other buyouts,
A buyout of NILI might follow this scenario below but at higher prices.....
ASX Announcement 18 December 2023
SUCCESSFUL COMPLETION OF ACQUISITION OF 80%
INTEREST IN NORTHPARKES COPPER-GOLD MINE Evolution Mining Limited (ASX:EVN) (“Evolution”) is pleased to announce it has completed the acquisition of an 80% interest in the Northparkes Copper-Gold Mine (“Northparkes” or “Northparkes JV”) from CMOC Group Limited (“CMOC”).
Northparkes is a well-established copper-gold mine located 27 kilometres north-west of Parkes, in the central west of New South Wales, Australia. Northparkes hosts multiple large-scale porphyry copper and gold deposits suitable for bulk cave mining operations in an area well known to Evolution, and benefits from significant investment to date.
The operation is expected to deliver immediate cash flows to support Evolution’s balance sheet deleveraging.
Evolution has paid CMOC US$399 million (A$603 million), post preliminary leakage adjustments, which was funded by the recently completed A$525 million institutional placement and a new A$200 million 5-year Term Debt Facility. In addition, Evolution announced a non-underwritten share purchase plan targeting up to approximately A$60 million which is expected to close at 5.00pm (AEDT) on 16 January 2024.
Commenting on the completion of the transaction, Managing Director and Chief Executive Officer, Lawrie Conway said: “We are delighted to have successfully completed the acquisition of an 80% interest in, and operatorship of Northparkes. This is another important step in our strategy of building a portfolio of long-life, high -margin assets and delivers us two long life assets in Central West NSW.
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Good Luck,