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18/06/14
15:55
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Originally posted by elphamale
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"....I also get the feeling that Porgera and Mt.Kare will all be under the same roof at some point. Assuming Barrick were willing to sell Porgera for say $100mil or less, it would be an economic no brainer for anyone who had access to the money and had the balls, experience & nouse to resolve the social issues at Porgera using the so called 'Melanesian approach'.
and
"Massive gains and the creation of a golden powerhouse would result for all shareholders IMO by using Porgera's infrastructure and workforce for the two projects IMO."
elpha,
no doubt a development like this would have the political support of the PNG Gov't. But what's the chances of Barrick parting with Porgera a) in the foreseeable future, and b) at a price which would make it possible?
now would be a great time for such a development, I.e. Before IDC borrows $100m+ to drive the adits, and build the plant etc etc.
Porgera probably has plenty of used plant equipment on site which could be refurbished to build most of a plant for Mt. Kare. There's a $50m saving just there!
errrr. Maybe.
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