Certainly in the short term that seems like a great option for MM8, alleviating some of the capital requirements. I presume that if RGP, and/or gold prospects proximal to FNO, extend the life of the project then at some point MM8 would have to surely look at renegotiating for a buyout. But that's a can which can be kicked down the road for a while....
The other consideration for me is that IGO have long known that Forrestania was to wind down - what state is the plant in? Re-starts are notorious for being cost blowouts when a plant was shut down on good terms, not when it was being laid down for a long good night. I would imagine that the MM8 team are smarter than me on that front and have planned accordingly.
It's looking really good for me. Just get it done already.
MM8 Price at posting:
22.5¢ Sentiment: Buy Disclosure: Held
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