So CSA mine sale has now proceeded. See
Post #:64935461 What I find interesting
@Deme is that the Terms of that deal were initially struck when Copper was near $5/Lb. Since then has fallen to a intraday low of $3.13/Lb and now trading around $3.62/Lb. So Glencore has revised their terms with a minimum US$775m cash with a potential of scaling up to US$875 sale along with US$150 subordinated debt. Plus GLN get a director on the MAC board with 100% offtake. So in all reality even though the sale was lower GLN still maintains an element of control over the mine while collecting NSR Smelter fees and total offtake.
US$75 million in a deferred cash payment (bearing interest from completion at the same rate as payable under MAC’s subordinated term loan proposed to be entered into in connection with the transaction), payable upon MAC’s listing on the ASX.
CSA Copper Mine out near Cobar produces about 50,000 tonnes of copper each year. This is mined and processed onsite, and railed 700 kilometres to the Port of Newcastle for export to smelters in Asia.
Again this just emphasizes how undervalued CYM Nifty operation is when Nifty will produce 25,000tpa copper plate on site and is currently valued at AU$65m(US$43.21m) while CSA with double that annual output is valued at US$875m(AU$1.31619 Billion)
