A good rise so far today but I expected it would surpass it's 12 month high ...still may today .
Perhaps the arrangements are complicated and people are wary .
" Newco
is to be owned 84% by Peak (via a wholly owned entity) and 16% by the Government. As
required under Tanzanian law, the Government’s ownership is to be in the form of nondilutable free carried interest shares in the capital of Newco."
Nondilutable !
Plenty of value to share round but to get full value from the project off takes and debt financing are critical .
If a lot of new shares are issued effectively govt get more for free .
But as I said , plenty of value to share around , if it can be done right .
Ann: Cabinet Approval of SML Application for Ngualla Project, page-48
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