Running discussion on SP, page-6005

Just a reminder to everyone - Klaus sold Moto Goldmines (Congo) in 2009 for $488m US, i.e. over $600m AUD at the time. This was done after feasibility study proving up 5.5 million ounces of probable reserves of gold. That's equivalent to about 50 million tonnes of lithium, which in the context of AVZ is a small number.

The most recent Ore Reserve estimate from PLS, published in June 2017, comprises a Proved and Probable Ore Reserve of 80.3 million tonnes grading 1.27% Li₂O. That's roughly half the January 2017 JORC they had, so applying the same ratio to AVZ once we hit a JORC of at least 100 MT (probably in July) our reserves are likely to be more than Moto Goldmines in dollar terms. In the end they'll probably be a lot more.


https://af.reuters.com/article/investingNews/idAFJOE56F0E020090716

Oh and there wasn't just one bidder ready to cough up $600m AU for a mine in the Congo...

http://webcache.googleusercontent.com/search?q=cache:ICTvzQDlQ1gJ:www.northernminer.com/news/randgold-outbids-red-back-for-moto-goldmines/1000335662/ &cd=7&hl=en&ct=clnk&gl=au

BTW Moto also had a similar interest in the mine as AVZ does in Manono -  70%.

http://www.cbc.ca/news/business/red-back-mining-drops-bid-for-moto-goldmines-1.810258

Interesting to note that later on Randgold and their bidding partner ended up acquiring 90% of the mine, decreasing the government's ownership? Puts to rest concerns about AVZ's 60% stake. http://reports.randgoldresources.com/kibali-gold-mine



For some info I found on Randgold transporting into the Congo see post #:33607729.