CAI 0.00% 11.5¢ calidus resources limited

Ann: Calidus buys Nullagine Gold Project & enhances cash position, page-17

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 101 Posts.
    lightbulb Created with Sketch. 74
    Really all you have to do is be able to read and do a bit of your own research.

    Today's CAI announcement:
    "On completion of the Acquisition Agreements, Calidus will:
    .....
    • assume all rehabilitation obligations in respect of Millennium and the Tenements which Novo reports as
    approximately A$45M in their June 23 balance sheet. This amount includes full removal of the plant,
    accommodation and associated facilities. This infrastructure is considered critical to any re-start scenario and as
    such, will only be rehabilitated at end of mine life. In addition the re-sale value of these assets will be used as an
    offset to these costs. As most deposits are open at depth and many were not mined past the oxide layer, Calidus
    believes a large number of these deposits may be suitable for the sulphide strategy and will address mining
    rehabilitation as these deposits are mined as is standard practice in Western Australia."


    Today's NVO announcement:
    "Through this agreement, our financial position is improved with the removal of the existing rehabilitation liability of approximately A$45 million from our balance sheet"

    I suppose it's just a matter of perspective. One man's grateful assumption of a liability and the other man's gratitude that he is no longer on the hook for that same liability. Who comes out ahead? Well, who knows,
 
watchlist Created with Sketch. Add CAI (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.