Late night here too now and I really don't have time either. Should either go to sleep and get up early to work or work till midnight!
I agree, Newmont do have bigger fish to fry. It was commented to me several months ago that there'd been a few unexpected hiccups, of which the Telfer dam wall was only one.
It is also interesting to read the smaller print of the Wilki Farm-in agreement. The broad farm-in terms are:
Bu also in the original agreement announcement of 28 February 2020:
1. Newcrest can indeed elect to extend the Stage-1 earn-in agreement by up to two years, so perhaps there is not the pressure to reach the 51% by spending this current $10M by 28 Feb 2025 after all.
2. Newcrest can elect to withdraw at any point during the Stage-1 farm-in, leaving Antipa with 100% of the Wilki tenements
3. Newcrest can satisfy any amount of expenditure outstanding during the final 3 months of the Stage-1 farm in period, by paying Antipa the outstanding amount in cash. So if by October 28, 2024 they have only managed to spend another $3M of the $6M I reckon the had to spend to get to the 51% JV position, then they can simply give Antipa the extra $3M in cash.
4. For Stage-2, Newcrest can indeed then proceed to spend the next $44M to take their intertest to 75%, but at any point during this 8-year period, they can cease to spend, in which case the JV remains at 51%:49%, with each patty contributing pro-rata to ongoing expenditure or electing to dilute.
5. Standard pre-emptive rights apply - presumably meaning one party can preferentially buy the other party out, all other things being equal
And so on and so on..
It is probably best that I just go to bed, get a decent night's sleep, and wait and see what eventuates over the next couple of weeks!
- Forums
- ASX - By Stock
- AZY
- Upcoming Catalysts
Upcoming Catalysts, page-42
-
- There are more pages in this discussion • 107 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add AZY (ASX) to my watchlist
|
|||||
Last
1.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $57.22M |
Open | High | Low | Value | Volume |
1.2¢ | 1.3¢ | 1.2¢ | $18.04K | 1.473M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
9 | 4075573 | 1.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.3¢ | 6894983 | 12 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
8 | 3975573 | 0.012 |
14 | 4000206 | 0.011 |
35 | 12918188 | 0.010 |
25 | 8744378 | 0.009 |
12 | 5082320 | 0.008 |
Price($) | Vol. | No. |
---|---|---|
0.013 | 6517883 | 11 |
0.014 | 5115500 | 12 |
0.015 | 4935848 | 7 |
0.016 | 4447964 | 10 |
0.017 | 2800000 | 3 |
Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
Featured News
AZY (ASX) Chart |
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, MD & CEO
Anthony Noble
MD & CEO
Previous Video
Next Video
SPONSORED BY The Market Online