Ann: BBM PCI Start-up Project, page-198

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nabinpaudel

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19/05/17

15:04

Post #: 24798381
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Originally posted by vontrader ↑

@nabinpaudel lender DD is a formality ... do you think Platinum administrators would have agreed to the deal if they hadn't already done DD ? They had 3-6 months working on this already

Shareholder approval and securitisation are also just formalities

Once they announce JV funding, then that is the initial conditions basically ticked off and 1/3 the debt converted to royalty automatically

We then only have to demonstrate ability to mine 100kt to have the remaining 2/3 debt converted to royalty. The PCI project can be in production before Xmas and can produce up to 500ktpa. We could in theory have all the conditions ticked off before the end of the year, if not first quarter of next

What are we worth then ? Producing 500ktp.a and making $10-20Mp.a ? We would still retain all BBM upside, TBAR would be drilled and proved up. That is easy $100M market cap or 16c

Getting TBAR and BBM into production is the real cream. If TBAR proved to be same size or better than BBM, our NPV would be pushing $1Bn ...

So someone taking this out for 10c or $60M market cap is exposed to huge upside

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Hope you are right Von, if everything is just formalities then I would expect announcement on lender's DD next week, why should we wait till 29th May then !! but if this goes past 29th May then ....something is not right, hopefully you will also agree on this !!!!

CKA Price at posting: 2.8¢ Sentiment: Hold Disclosure: Held
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Ann: BBM PCI Start-up Project, page-198

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Ann: BBM PCI Start-up Project, page-198

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