It’s a good point that the cost of capital is very different (ie much lower) for the kind of business KSN wants to attract as a JV partner, compared with ourselves. Attracting a major multinational gold miner would be very appealing to the PNG govt, which might then offer tax concessions etc for a long term project of this scale. Andrew Corbett has said there is real interest in the project and that a deal is not impossible this year. He has no advantage in over-egging the pudding, since he’d just lose credibility. I for one think he’s telling the truth about current interest in Misima.
KSN Price at posting:
7.3¢ Sentiment: Buy Disclosure: Held
