what is going on , page-57

Rod178
Good article
It puts some further clarity into the transaction
The private equity mob by 60 per of harmonies assets seeking to do what PE firms do, develop fund and off load to someone else for 200-300 percent
Harmony cleverly locks in with the initial deal a processing deal of the ore insuring an extra 40 milllion a year for Harmony the parent company.
The focus is this group was uranium so it's understandable the focus wasn't out on the gold production. Why would Harmony suggest treating the ore in-house when they would go from collecting the 40 million per year entirely to splitting it 40/60 with the private equity guys.
The uranium asset piece has been delayed, the PE firm have reached their 3 year timeframe, the money is being pulled put to go back to their backers for the next quick profit play.
So GDO has acquired gol assets that clearly have not been focused on as this was a uranium business.
gDo have acquired uranium assets that have been developed and derisked (70 percent BFS)
GDO have acquired assets from a hot money institution who as we know by the mere nature of what they do are only interested in a quick buck.
And as Noel froneman mentioned GDO have acquired assets with a NAV of 500million and an internal NPV of 600 million. Rod this article gives me further confidence as one always asks in any transaction why did the sellers sell. They have reached their 3 year timeframe Funny how harmony are are already crying about losing their processing honey pot. Lol. One would guess NF being a ex harmony man may have been very very aware of this transfer pricing piece and the value of transferring that value to GDO