nmdc aquire wonarah through lcy, page-48

Agree GFU, you can only sell it once.

As always everyone is focused on the near term, that is the possible NDMC deal. I would love to see that deal progress on fair/favorable terms to MAK,

but would also suggest that for now time is our friend not NDMC's,
a) Wonarah is a number of years away from production of processed product what ever happens
b) without NDMC and an improved market DSO comes back into the frame.
c) time would give the IHP pilot plant time to be built and proven, given the location of Wonarah and tpt costs, etc. proving the IHP adds value and negotiating strength to Wonarah
d) Near term production will come from somewhere else all together that doesn't involve Wonarah or NDMC and that is Sandpiper

I see NDMC having 2 main benefits for MAK,
1)is funding Wonarah development, this is good.

And
2) reimbursement of costs, also good, but if the cost to be reimbursed are not such that will make a significant difference to the capital that needs to be raised to develop Sandpiper then it is of little benefit to MAK.

You can only sell it once, we (I can) can wait for Wonarah. AD said discussion was about capital structure or so, so one would imagine that there is satisfaction with the cash amount.

I'm suggesting we hold a stronger hand than many here think.