Hi PF Did not realise Sorby Hills was a cluster MVT deposit which now makes sense of their almost "casual" use of the MVT description in the announcement.
It also gives credence to the reserved use of that description by TNG until recently when they have been more certain in their use of the descriptor MVT. I like companies that are cautious (credible) in their approach.
Assuming for the moment that CBH cannot afford to absorb TNG except by a script offer, I cant help but think that Sorby Hills should be put into another structure such as TNG for which TNG could issue shares to satisfy the deemed value of the deposit. Deeming that value could be tricky as CBH will want full value for it and long term price of lead may not be that rosy.
I guess if TNG is as big as we all believe it can be, Sorby Hills may not be relevant over the longer term and if agreed by both parties ore from Sorby Hills could be toll treated. This of course does not answer the underlying question of who will be the long term owner of TNG???
TNG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
