Yes William!!!!! Where does it say that the funds will be used to to drill TD2 and TD3?
From the December accounts, MNC's paid up capital is $324 mill. I know some of this was used to progress Molacas (which is sitting in limbo and is small in the scheme of things). Not much money spent elsewhere. Not wanting to go through the announcements, so if we assume $100 mill was expended on Molacas, then the way I see it, Los Calatos ownership as is as follows:-
MNC Shareholders 30% for $224 Mill
CD Capital 70% for $45 mill
Who's the winner here?
What value will returned to shareholders after future staff salaries are deducted from the 30% . Not much I gather.
Of course standard comeback comment will apply - "without it we would have nothing" which is a load of bulldung.
IMO true value of Los Colatos lost to current shareholders and therefore need the Colombian project to work to obtain any real growth in value. Guess we will see how much of this project will be given away as this progresses.
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Ann: Funding of up to US$45 million for Los Calatos-MNC.AX, page-26
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