Mate, it is the time frame in which Teck must spend their $10mil and $5mil if they choose to buy back which concerns me. Given that they then have control can they just bank the project and do very little? Saying thanks Tony and all your guys, you have done a great job for us and now you own 35% of whatever we decide to mine whenever we decide to mine it.
I hope they don't claw back - then Alacrain might be a beauty.
But with SP less than half the peak when Promontorio was announced (with subsequent news blackout) and also well down on the peak after Alacrain was announced (with subsequent resource drilling at MDP and discovery at LB), you just have to wonder if this company takes seriously its principal obligation which is to grow shareholder funds.
Romping round the world spruking will not save this company from what could be the two worst JV agreements possible to imagine.
Further, if the company had wanted to dispel these fears they could have published the full JV earn-in agreement. But they have not, well I certainly cant find it.
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