Using the most basic of maths with rounded numbers for simplicity the ‘payback’ on this venture is 4 years MAX.
Encore produce 1million pounds per annum.
Absolutely safe margin of US$50 per pound.
Boss 30% on profits is 300,000 x US$50 = $15million per annum.
With ISR mining I’d imagine margins would currently be closer to US$75 right now.
Theres of course more to it. For example we bought $10million equity into Encore and it’s already up over 10%.
We have their technology which is a wonderful value add.
This also opens the door for further deals down the track.
My personal belief is Boss will take them out down the track.
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