So the Mining Convention is signed but...
Remember the BFS with its 22% pre-tax IRR which included no contingency and low ownership costs https://hotcopper.com.au/posts/62114911/single
Now if the Mining Convention is compared to the BFS:
- royalty
BFS 5 year holiday
MC commences on granting of the mining permit it appears
- community development fund
BFS 1%
MC 1%
- special account for the development of local capacities
BFS 0%
MC 1%
- ownership by state
BFS 10% free of charge
MC 10% free of charge and non-dilutionary which I take to mean free carried
from page 63 of the BFS announcement, "The BFS has been completed on a 100% Project ownership basis for the financial assessment."
I believe the BFS says we'll issue 11% more shares and give them to the state for free and then all shareholders contribute equally to build the project.
The MC appears to say we'll issue 11% more shares and give them to the state for free and then we, the other shareholders will spend our money to build the project.
- production
BFS ????
MC 5% to state as a production sharing agreement - what does this mean?
Chuck on top of all this 24 months for a feasibility study for an alumina plant and construction of same starting 30 months after signing the Mining Permit!!!!!
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- Ann: Mining Convention for Minim-Martap Bauxite Project signed
Ann: Mining Convention for Minim-Martap Bauxite Project signed, page-4
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