PAN has a MILL which MCR does not
PAN has Trafigura offtake and related debt deal, MCR does not
MCR is a BHP lapdog with exorbitant costs & tolling fees paid to BHP
BHP threw MCR BOD under the bus and also AF in turn.
AF burned $760M cash on MCR & $400M cash on Noront, both warehoused not producing no MILLS.
NUTS
No wonder the ex ran for the hills.
AF could have funded the PAN debt and taken a 20% stake like Zeta or IGO did but alas once again another bad decision by him in Nickel. Instead he got shafted yet again listening to bulldust morons.
AF aint no white knight, more like the dark knight.
Just ask the shareholders of ANL AGO AHZ POS PAN MCR WSA BWX et al.... (excluding FMG).
I blame AF as he could have been in control here now and producing at a real mine with a large MILL, im sure he is pondering his moves as are IGO Zeta and Trafigura after talks with Victor.
Difference is PAN has a large operating MILL and a good offtake contract with a friendly offtaker who is also lender so big difference to Noront MCR WSA ANL MBN and no yankee junkbond holders or BHP backstabbers involved.
I think IGO will put in cash to take control as AF hasnt got the foggiest idea of how to invest or produce in Nickel imho as proven by ANL POS MCR Noront et al..
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