Post by
Supertweety on Nov 15, 2021 2:52pm
Encumbers the property
Sibanye has to sign off on anything that encumbers the property. That was the key sentence in the whole webinar. I would love to know how much Sibanye wants for their share. I do feel GENM will come to terms with Sibanye before the end of the year. Sibanye will still own a 7.5% interest in GENM, and that's where they will make their big profit. Financially it's in Sibanye's best interest to come to a deal, and soon.
Comment by
timeoutofmind on Nov 15, 2021 3:27pm
SS backed out on july 22 because they had strategic reasons for NOT wanting the project to get off the ground. so why wouldn't they play hardball with genm going forward, assuming they feel the same way ? they're going to be obstructionist every inch of the way ..... that can't be good.
Comment by
bargnhillbilly on Nov 15, 2021 6:31pm
When GENM said Sibanye had been a good partner. I think they said that because they still had to to do business with Sibanye. I have never felt they were a good partner for GENM. They remind me of a mean ole woman that doesn't want ya anymore but don't want anybody else to have ya either! Yeah obstructionist...My 2 cents...
Comment by
IgnacioCashmere on Nov 15, 2021 6:57pm
I agree with that take whole heartedly but let's also remember we would not have anything if Sibanye had not been dumb enough to sell Generation's half for peanuts.
Comment by
Y93H1979 on Nov 16, 2021 6:38pm
I don't think Sibanye would purposely be d!cks about the whole thing. Word gets around in the mining business, and Sibanye are partners on other projects too that they have invested significant $$ into (Ioneer). Neil F. seems to have a very good reputation (and I'm sure he'd want it to stay intact ) which would help in his dealings with other current and potential partners.