Post by
nofluff on Feb 11, 2021 7:51pm
hey jc
As I saud many times. Jv in the books. Brian said they need 80 million u.s. to fund flor. That means they r not touching current or future gib bank account.
He mentioned they were looking at 25% jv. But now should do better. So way better is 15%. That is 30 cents for the pound deal.
That would b fine if the raker antied up there share of the mine cost. But I doubt it. Just watch. Oh sh will keep making cash on copper price. I have saw this more times than I can count.
nf
Comment by
2024golden on Feb 11, 2021 8:22pm
If it is 15%jv for 80m.....then the jv partner gets their full 80m back in 2 years production!! All gravey for the next 19years....sweet deal for sure!!
Comment by
JCSunsfan on Feb 12, 2021 12:18am
So. You want them to pay $80 million for 15% and then pay 15% of the capex? That would be an extra $35 million. So $115 million for 15% of the finished mine.
Comment by
JCSunsfan on Feb 12, 2021 2:00am
Can you sell that? Rights to 15 million pounds of copper per year at $1 a pound. At $4 copper that's $45 million per year cash flow and a 36% ROI. Payback in 2 years and change and the rest is gravy. Hey why don't we all throw together a little cash and become the JV PARTNER ourselves. I could use the cash flow.
Comment by
JCSunsfan on Feb 12, 2021 2:05am
I think I could scrape together a cool million USD, to buy a $360,000 per year income for the next 20. Yeah, I would do that. Anyone else? Here we are Stu. How bout your stockholders.
Comment by
JCSunsfan on Feb 12, 2021 12:22am
Actually, he said specifically that they would keep $50 million as operating capital for Gib and the rest can go to Florence.
Comment by
2024golden on Feb 12, 2021 8:57am
That is correct...exactly what he said. So with that, why can they not use the cash Gib is making this year....should be easily 80m by fall to complete financing Flo and forget about the jv??? Why dilute ownership when we dont need to?? Must be a Benefit to someone!!