This has been done to death and the frustration is understandable.
But……. How can they negotiate on a higher percentage of a kimberlite when the size and value isn’t known. Angola aren’t going to give up 20% of an asset for say $10m, when it may end up being worth $2b.
And I don’t think our company would be offering large sums when there is yet to be a commercial kimberlite confirmed.
You can see the problem.
Ann: $12.5 Million Institutional Placement, page-16
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