One of the reasons For the slowness in completing the Finance Deal is reasonably simple, they do not want any financer for the out right ownership to have any hold on the tenement .
They have at least 3 parties offering finance to allow for full ownership of mt Carbine to SEI, they also do not want a party to fund the purchase who also wants to buy tha product, they are keen to keep both seperate .
Also by doing it this way they will never have a loaded gun at their heads.
The existing owner of Mt Carbine has given as long as SEI takes to complete the binding deal, their is no time limit on this.
No other party can own it , only SEI.
True James most banks would not touch this as firstly their is not enough Money in it for them with to much risk.
My understanding of the deal is and I will stand corrected is they are trying to get between 8 and 10 ml ,
8 m for out rite ownership and 2 ml ,for ongoing working and commissioning capital
The trouble with banks is they would want 12 to 15% interest and a hold on the tenement.
All the underground section of the mine requires is de watering ,I would expect a contracting team would be engaged to commence mining soon after dewatering which by all accounts would only take a week or two at most, as the mine is only 400 mtrs deep with about 60 mtrs of water..
Very confident for the Money they are chasing ,they should soon get Finance.
Also they can sign any number of contracts with plenty of suitors for their Tungsten.
This is no problem they have plenty lined up to buy.
Their is also quite a few rich vines close bye they can also access ,and I’m also told they have upwards of $180 ml dollars worth of tailings they can re process .this is something Mitsubishi would be interested in among a string of others.
Some one mentioned Vietnam as a supplier , to my knowledge Vietnam allows no Mining if their product is being sold off shore much like China they keep what they produce.
Also Vietnam’s quality is no where near this Tenements .on a scale of 1 to 10 we are about a 8+. They would be about a 5 +
I would expect any deals done may involve .....Japan,,,,,,USA......Germany......Sounth Korea .....or Italy
The only Issue I see here is time and how much cash we have left to sustain our selves should this take longer then expected.
This Company is not know for large Cash Burn which is a very good thing for Share holders unlike a few others I could mention.
I hoping we get a report back soon from RK as he has arrived back from overseas last weekend.
I can also assure most long termers here that he is in discussions as I type ,and these have been and are
still ongoing.
Unfortunately for people wanting to short term trade this stock ,it may not be the best stock to achieve this.
Only 550 ml share on the registry of which nearly 40 % held by the top 20 and accumulating more every day.
Their are about 1200 share holders of which the majority only hold between 100,000 and 500,000
About 15% hold less then 100,000 shares .
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