It's good to see trolls back , it ll give me another opportunity to buy mid 2s ...
For me it was a good move ... Cfe doesn't have to pay obligations of us 7.5m to get the project get going , but holding half of it for free ( if owing half of fel ) and if the project eventually is going to go in production guess who's plant is going to go through ....open your eyes people cfe will be pure cobalt play now .
In respect to Kasombo, the Company will be responsible for: (i) funding 100% of the costs to complete the exploration and feasibility study to commence mining and upgrade, if necessary, the Kipushi Processing Plant to effectively process the ore from the Kasombo; (ii) providing all necessary technical resources to JVCo to enable the exploration and mining activities to be conducted to acceptable industry standards and in accordance with the JVCo Budget; and (iii) securing on behalf of the JVCo 100% of the funds to commence mining, upgrade the Kipushi Processing Plant, and to also conclude any joint venture obligations with Gécamines. In regards to the Company’s funding obligations, US$7.5m will be advanced as equity into the Joint Venture by the Company with the balance advanced as shareholder loans that are to be repaid from cashflow.
So no more obligations about kasombo but splitting the profits 2ways ...toll treatment + 50% ownership through fel ...
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It's good to see trolls back , it ll give me another opportunity...
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