Valueinvestor123 why won't you respond to my silly back of napkin calculation illustrating the fact that plutonic dome marymia tenements are uneconomic for any operator to mine due to Superior ore treatment agreement, that cover all plutonic dome marymia tenements? OTA being now enforced by mandatory order of western australia supreme court. I know, the truth hurts as my Rabbi like to say. Neither Vango nor any other mining company can mine Trident, Triple P, K2/phb/k1 without giving Superior 50% interest in tenement for $3mm capex paid in rapidly depreciating fiat, then vango or any other mining outfit must custom mill their 50% of ore at plutonic. Superior custom milling fees at plutonic are killer for any operator. The uneconomic nature of superior OTA from Vango perspective is why vango aggressively litigated ota for 5 years in front of wasc, so as to break legal ota contract so that vango could make money by being stand alone mining company. Alas [2021]wasc 459 and [2021]wasc 459(s) have put an end to this vango dream and this 2yr note only delay inevitable outcome and demonstrate conclusively that VAN interest in plutonic dome worth at most $10mm which is 25% of current van stock price so VAN won't see lender convert 2yr note at 6cents or $80mm market cap for vango, rather more likely outcome in 2 years is lender use 1st mortgage interest to sieze plutonic dome tenements and then sell note to Superior since Superior ota make tenements gold production unprofitable to any other operator and Superior is only buyer for vango note.
VAN Price at posting:
2.9¢ Sentiment: None Disclosure: Not Held
