re: dilution - dvk13 dkv13
That's a cynical and incorrect reading I believe. The deal means that the government can pay for its 12% share of development costs and Sterling has agreed to receive a share of its royalty stream from the whole project as a long-term repayment. Sterling gets a revenue stream plus favoured status to paricipate in future developments and production. The JV gets two additional partners - the Mauritanian government and Sterling.
Its all good! And much better IMHO than say HDR selling down an equivalent amount of equity (3%) in Chinguetti to another party which would only further complicate the JV. It also makes HDR more crucial to WPL as WPL will have less than 50% and will need HDR onside.
Cheers
H
- Forums
- ASX - By Stock
- HDR
- dilution
HDR
hardman resources limited
dilution, page-15
-
- There are more pages in this discussion • 10 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)