some interesting finds when researching our offtake partner. so as we all know we have an offtake MOU with CNMNC (NINGXIA ORIENT GROUP COMPANY. they are a subsidiary of CNMC China NON FERROUS METAL MINING COMPANY which is owned by the central government of china . This confuses the hell out of me so below is a picture of there organisational structure and you can see its basically one parent entity (CNMC China NON FERROUS METAL MINING COMPANY) that has many holding companies across different buisnesses, commodities and countries.
found this snippet below interesting off the parent entity's website regarding future planning. to me it seams like a pretty driven partner to have on boardII. Long-term planning goals
By 2020, CNMC will try to possess a total of 40 million tons of nonferrous metal resources (excluding bauxite) and actively promote construction projects and the relevant trading businesses. It will, on the basis of quickening the development of nonferrous metal mineral resources, achieve major breakthrough in developing and utilizing overseas nonferrous metal resources and developing domestic nonferrous metal resources, make major advancement in enterprise reform, independent innovation, and scientific management. Its aim is to become an internationally competitive and influential nonferrous metal mining group with outstanding main businesses, reasonable structure, and advanced management, and possessing the advanced technologies and independent IPR.
for more info on CMNC here's the webpage have a read for yourself http://www.cnmc.com.cn/outlineen.jsp?column_no=1207
now considering we are going to require extensive capex lets see what CNMC are capable of .
The Pakrut gold mine, located approximately 120km north-east of Dushanbe, Tajikistan, is owned by China Nonferrous Gold (formerly known as Kryso Resources). The mine development is being undertaken in two phases, which are expected to cost US$223m in total.China Nonferrous Metals International Mining, which holds 26% in China Nonferrous Gold, provided a $93.5m secured loan facility for the project. Export-Import Bank of China provided debt financing for the project.
On July 10th, 2009 China Nonferrous Metals International Mining Co., Ltd. signed the Investment Agreement with Chaarat Gold Holding Ltd, under which CNMIM will participate in the equity investment of Chaarat Gold Holding Ltd.and holds 19.9% of shares of the company, which makes it the first shareholder of Chaarat Gold Holding Ltd. and participate in the exploration,feasibility study,develoment and business operation of the project. cant find the actual investment in dollar terms but none the less shows they are happy to reach into there pockets
Tagaung Taung Nickel Mine is the largest mining project China has cooperated with Myanmar government in the mining industry, and it is also the largest projects China has invested in neighboring countries. Tagaung Taung Nickel Mine is less than 200 km to the border of China. It has 700,000 tons of nickel resources in the mine. In July 2004 CNMC signedExploration agreement and feasibility agreement with No.3 Mining Enterprise of Myanmar. The Project draws attentions from Premier Wen Jiabao and Myanmar Premier Thein Sein. Currently, CNMC has finished geological survey and feasibility study and has signed Production Sharing Agreement for Tagaung Taung Nickel Project,. The total investment in the project will exceed US$800 million with an annual output of 85,000 tons of ferro-nickel after completion.
Hambishi Copper Mine was obtained by CNMC through an international bid in 1998, at which time CNMC also obtained the use right to 41 square kilometers of land on the surface of the mine for a term of 99 years. The mine, with resources including 5 million tonnes of copper and 120,000 tones of cobalt and involving a total investment of US$ 160 million.
also a little closer to home WA's biggest rare earths mine is expected to begin production by the end of next year after Lynas Corp yesterday struck a deal to swap control of its stalled Mt Weld project for a $500 million Chinese lifeline.Subject to approvals, the agreement provides state-owned China Nonferrous Metal Mining Group (CNMC) with its debut investment in WA's mining sector and will see it take majority ownership of Lynas and its $390 million project near Laverton.the LYNAS deal fell through when The investment review board had demanded CNMC reduce its ownership to below 50 per cent and take a clear minority of board seats in Lynas.but none the less highlights the financial power of who we are dealing with.
anyways this is pure speculation on my half so take with a grain of salt, so our MOU expires October 1st 2019. Management have gone out and accesed the research rebate of 1.4 million in advance as a loan which is unusual. I have never seen that done before . that would mean we could be funded to October 1st easily.. so why are management trying stretch our funds out past October? could our next raise potentially be a new major shareholder coming on the register as part of the offtakes
