Western Copper and Gold Corp T.WRN

Rio / Mitsubishi

[jclarke042]

https://www.riotinto.com/en/operations/canada/iron-ore-company-canada

[EvenSteven27]

Thanks for proving me wrong, JC. So, Mitsubishi has worked with both. I know from living in Japan for 35 years that Sumitomo is Rio's main offtake partner. In fact, I pass the smelter every Monday and Wednesday.

[jclarke042]

All good. I tried untangling the web when they announced, their corporate website & investor report was a maze to be sure. 

[Marine2]

Com-on We all know Rio and Mitsubishi have worked together in the past and are now working on a partnership,,, and buyout plan for Casino. Paul courted  Mitsubishi into the deal knowing Rio was a little anxious about the development cost of Casino. The strategy and timing are all falling into place, Dail & Paul are driving this buyout by setting things up for a bought

[EvenSteven27]

i agree, Marine. it's coming next week and we'll be seeing a $6-10 initial offer. i wish it weren't this way, but, yes, Rio will try to lowball it. still, hoping for a competitor bid. 

[EvenSteven27]

i am still surprised how and why Paul did this behind Rio's back then. 

[Pinegrove]

I'd guess that Rio & Mitsubishi got together before Paul & Mitsubishi got together.  They are going together here & Paul could of been the last to know!

[EvenSteven27]

but Paul said Rio didn't know. so you're saying he didn't know that they knew? 

[jclarke042]

It's possible Rio and MMC talked first. Paul said something about Mitsubishi being "a partner of choice." I'm almost convinced, but it's still not clear to me what Rio gets out of MMC being there. 

[CopperAndGold14]

My guess would be that RIO gets someone else to share the startup costs to build the mine.  It seems unlikely that any one company will want to pony up the capital to build this.  It's a huge construction project, absolutely requires on-site LNG powered turbine generators for electricity.  Am I remembering correctly when I think someone wrote that once built, the Casino power

[Sooner]

That would be ironic....I would find that kind of hard to believe though and I would think the Rio CA would have covered such behind the scenes activities ...but I'm just speculating on that as well.

[jclarke042]

LOL. Hey MMC, our strategic Investment everyone knows about? Nice to have a partner we've worked w before share the publicly discussed capital requirements. Why don't YOU ask them if & how you can get involved. Of course you've heard they're asking for more help, they'd welcome a call from you. See sooner? Easy as pie. Quick phone call, no paper trail necessary. 

[Sooner]

Haha! Yeah. I'm totally confused and ignorant about how this entire thing goes down. I guess I naively believed when Paul says Rio was unaware that they were unaware about the MMC thing entirely and he wasn't trying to be subtly deceptive. but I got no clue....about what Rio is doing behind the scenes, what they would be able to share with others relative to the CA they signed etc. I'

[Marine2]

Sooner The way I read this with Rio and now MMC buying in for 5% is,,, MMC saying we are interested in getting involved with the Casino project ( cash in the game) lets get togerther and see what kind of deal we can come up with. I believe Paul is pushing (in the last two weeks) for Rio / MMC to work on an plan and buyout offer,, if not Paul has said,  we have other interested parties of

[EvenSteven27]

Basf on your info JC, the smelter will be Onahama in the Tohoku region. very direct shipping route. makes much more sense than yawata. yawata is used for pilbara. yawata is more direct for australia. frankly, i don't think these companies care who they work with. just what makes dollars and sense... don't count the cents.