has moore done it again with carnilya hill

Has Moore pulled off another coup with the 30% extra from View Resources for Carnilya Hill?

Looking at the sums, cost is $22.5M (plus potential further royalty of $2.5M on additional nickel exploration success subject to Nickel price being not less than US$25,000 per tonne).

However, the Capital Cost for development was $28M so View's share would have been $8.4M. So the total cost to MCR is thus $14.1M or thereabouts.

Effectively they are paying $14.1M for 4,200 tonnes of Nickel. Project was expected to deliver 200M of net cash before tax at a internal rate of return of 600%. Hence VRE's portion would of been $60M net cash.

Looks like a good eal to me.

In addition, get sole rights to any new discoveries at Carnilya Hill(subject to potential royalty as above) and a 70% right to nickel at Bronzewing by spending at least $1M on exploration.

Looks like a very sweet deal indeed, especially given the liklehood of further exploration success at carnilya Hill.