nyrstar needs to strike now, page-8

nystar payed 35c PRE drilling program. The drilling program has definetly valued added

Therefore it was worth 35 c fair value before this list of drilling.

Have a look at teh drilling results for the past 4 months and you dont need to be an expert to realise this is something special.

It COULD retract, but who knows, they could release a 100% upgrade on JORC on monday and it never drop beneath 50 again.

Im not 100% certain if nystar will bother taking it over. What I see is them getting a bigger stake due to providing the funding for the CAPEX. Shabandri will know more on nystar than me, but the main thing they need is zinc for their mainland europe smelting plants, therefore they need to sure up supplies more so than own the mine outright.

This is what I see.

Nystar could A- pay 400 odd mill for IBG (i think if the feasability study comes through positive, they wouldnt get it cheaper than that) then pay 400 mill upfront CAPEX for 100% ownership

OR

They could increase their stake from 30% to 70 odd % by funding the 400 million CAPEX via convertible notes or cap raising or whatever, this will give them just as much Zinc to their Euro plants, a big exposure to IBG but save them 400 million dollars upfront.

Im not 100% certain of a T/O, imo it makes more sense for nystar just to have a majority stake in IBG, as they have the offtake deal already.