Ann: Anthill Mining and Treatment JV Signed , page-17

re: Ann: MKO: Anthill Mining and Treatment JV...
"There must be a reason we dont do that"

I guess one of the reasons is that at the moment KMC proven resources are not sufficient for an efficient use of the proposed plant. I suppose that if no further ore was found then KMC would process the existing resources and then end up with a plant with plenty of economic life but no work for it.

Still agreeing to process very low grade for a customer does not seem to me as tho most efficient way of using the plant.

Looking at the map in the announcement, there are plenty of mining leases in the neighborhood.

If KMC started alone, mining and processing their own proven resources, starting with highest gold grades, it could build a nice little war chest with which it could go and look at buying other nearby operations or at least go into JV to process richer grades. Of course, the future price of gold will be important in the economies of these operations.
With gold price where it is ATM, all these deals and proposals look a lot less attractive than when they were negotiated while ago.