“why wouldn't a group of managers from the 'offtake and debt funders' get together, form a $2 company, and go into this multi billion dollar from nothing business, themselves??”
I’d hate to state the obvious.....maybe it’s not their line of business?
They don’t have the connections in DRC to get such an opportunity?
Both are Business 101 principles....further justifies why after 40 years it’s HC for you!
”The managers/owners of this 'offtake and debt funding group' are not very bright if they are just going to give someone else the opportunity to make all this money while they get nothing much out of the deal except some cobalt.”
The terms of an offtake always contains benefits for both. Perhaps a nicely discounted price? Perhaps the offtaker wants more supply than what they can get from the bigger suppliers at a better price? Equity opportunity to benefit from SP growth for supporting the company? Plenty of others reasons out there.
Again Business 101
“In the real world where I live, I can't recall the last time a large company gave millions of dollars to a company with no collateral and no cash, but it might just be my memory.”
Yep it’s your memory. The JV has a processing plant valued by METS at $33M as is!
Yet again you add no value to these threads........
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Dani Nadri, Country Manager Australia
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