Generation Mining Ltd T.GENM

Renmark today

[IgnacioCashmere]

There was a lot to digest in today's presentation. They can't enter offtake agreements without Sibanye's permission as long as Sibanye holds 10% or more, so there is motive to buying them out. If I understood correctly, Sibanye cannot be diluted below 5%, so it needs to be done if possible. "These things take time" on financing. They were not receiving serious offers as long as the Sibanye decision was in question, so they could not have had a deal in hand even if they wanted to. Up to 480 million in debt, as they are talking to banks. They are also talking to smelters. They have received proposals for streaming. They have had site visits. Before making a deal, interested parties want to do their own independent due diligence on such things as permitting & first nations, which takes time. They do not expect to do dilutive financing until after streaming & debt is in place. There was more, but i did not take notes.

[skiesthelimit]

From what Kerry said in my understanding is that there will be a buyout of sibanye's 17% before a streaming deal is even allowed to happen because they don't want to go ask sibanye for permission to do so. So within the next few weeks I smell a takeout of the remaining sibanye interest and a part of financing in the books.  Also great interest to me was the First Nations are on board,

[my69z]

"  interested parties want to do their own independent due diligence on such things as permitting & first nations,.." The site visits they just held.  I was actually surprised to hear it was now only 3 FN's. It used to be 6/7. So good.  Glta!!

[Ebankbank]

Site visits for financing? Sounds like they are having a lot of visits ? So this is good ?