Could the remaining 10 percent that Puna Mining S.A will hang onto post stage 3 development( Argosy gets 90 %), be something that any major company ( Japanese or South Korean) investing with Argosy would find unattractive and be a point of contention?
That is still a lot of voting power to Puna Mining S.A (remember 'Puna Mining S.A.' the entity own all the mining leases and Argosy has a share of Puna Mining S.A up to 90 %),
Only spit balling here but what if this is one of the hold ups caused by the big boys who want to have a broader span of control, maybe they wish Puna Mining S.A to hold onto less of the company- I could only imagine that Pablo Alurralde cannot be brought ( Remember Gangfeng wanted him in the early days and must have offered many things).
Sorting out figures and numbers for the oftake, Grade and stage 3 development could have been fairly cut and dried however something to do with the power of a company could be a much more delicate matter to attend to and take some time. I cannot imagine you would want to bite the hand that feeds you ( Mr Alurralde)
Not wanting to stir the pot just mulling over possible hold ups in the dare I say 'Imminent' Off take/stage 3 investment partner,
Appreciate some thoughts of those who have had dealings with foreign companies in a similar situation before....
Regards
Scibble
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