Posting this again Jim, seems the reply lost your name.
Did you respond to my reply? - outlining the calculation and points, i thought it was pretty clear Jim. you might need to do some more research to understand the numbers and JV arrangements better?
There is a libor plus carry loan that needs to be repaid by the JV to minres to clear capex investment costs and short term 100% flows to minres ?
Given all the hullabolu and paranoia about debt, I didnt bother bifurcating the repayment into revenue and cash flow. Obviously if its loan repayment rather than revenue, that reduces the debt.
But just to be 100% clear, Minres gets all the proceeds until the JV loan is cleared.
My point is largely about the cash generation / repayment aspect.
Wazz
MIN Price at posting:
$25.55 Sentiment: Buy Disclosure: Held
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