Hey Corgs, question on the agreed 12m workplan and at a cost of $7. 6mWhats the chances that the 21m circa esimated to be req over 2021 to drill out and complete the FS has now been scaled down? No FS req in jan 22 now, new agreement in place, so whats the rush per haps?
12m going flatout for 21m circa might now be spread over 36m at 7.6m per yr... Is that a possibility/probability?
Zeff only needs an inferred resource to be delivered as per the perf rights statement.. The M&I assumption was held in place by the FS being due 6m later and wouldnt fly on inferred resources I dont believe..
No need for tight spacing if you aren,t classifying M&I so more bang for drilling buck.. But also no definitive company EV document either due to inferred status.
As for the main diff in the old vendor agreement to this one is that Jose kicks in costs, there is no FS deadline & the "caveat on sale" sitting over the concessions may have been lifted with the termination of old PA.
Pretty big grey and abstract area the old purchase option agreement.. Obviously that was put in place prior to TSO listing and therefore disclosed as necessary.. With any luck a new agreement should warrant all the asic disclosure obligations so investors can see exactly what is written and ergo potential benefit..
Can,t see how things can just roll along in silence under the assumptions which we are all still guessing at..
Vendor gave up the FS req and payment of 50k due as per the old milestone earn in 70-80% by agreeing..
So the only other % holding that is at risk by not contributing initially might appear to be 5%
Which based on current MC of 100m circa would be an EV carry value of 5mil.
Seems silly that you wouldnt spend 2.6 to secure 5m plus any upside potential..
Not kicking in might say they arent greedy and 15% is plenty so I,ll give 5 away.
They are broke and Zeff spung this at a shite time..
Or they dont see the value in kicking in, which wouldnt be the best indicator...
The potential sale scenario is the only reason. "why" that holds water... And if so I doubt anyone takes over whilst resources are still in the ground unestimated M&I, or better still under FS as P&P do they?
Think I liked it better when peaky was asking all the "que" type questions.. At least you could bat that fool away with a quick archival search and fact retrieval..
The fwd look ahead now it is evident they poss aint going to mine as planned is trickier..
8tey
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Hey Corgs, question on the agreed 12m workplan and at a cost of...
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