Well stated mate. Appreciate the info youput there. Let's...

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wgdt72

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15/05/24

10:54

Post #: 73831401
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Originally posted by spid81: ↑

Hi Wgdt72,

There was no need to mention Au Mining, MRC has already announced that they are willing to provide $800k to cover the payment required to Gold Terrance and the resolution has been forward for approval at the AGM which is expected to be held later this month.

I do agree with you, Gold Terrance wouldn't want to lose the project for only $800k payment of 30mil shares valued at 2.2 cents ($660k)

The agreement also states MRC can secure the additional 10% for only 10mil additional shares ($220k)

Considering the project's NPV was US$111mil (based on higher graphite prices than the current spot price) I don't blame Gold Terrance for trying to put up a fight when the project's only requirement left is obtaining the final EPA approval from the WA department.

BTW, you should also note the NPV was based on the 14-year mine life plan, this was determined before MRC conducted additional aerial surveys and I believe additional drilling, which should increase the mine life.

Anyway, Securing the additional 49% of the Munglinup project based on the previous agreement is only $1.68mil AUD.

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Well stated mate. Appreciate the info you
put there. Let's see if the outcome aligns with that and shake it from there.
1 Upvote

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