Ann: Galena Secures $90M Project Equity For Abra, page-116

Perhaps good timing for an SF T/O ?

But when one thinks of the possible aims, objectives and targets of the G1A/Toho JV I don't think theyd allow a T/O unless it was all encompassing, or a total T/O and at a very good price. Would SF have the necessary capital for such a move?

Toho is a smelting group, so putting 2 and 2 together Id say they have Japanese lead consumers that r wanting to lock down lead given the approaching tightness in world supplies and the lack of new significant global projects coming on-line.

A very shrewed way of locking in at least some lead product price if the lead price goes out the roof.

So would they sell ?

Id say they'll be keeping their tight little hands well and truly around those shares given they want some control over the lead coming out of Abra.

That's just my pov on the potential of a Toho sell down.

Just cant see it happening unless as mentioned its to even tighter hands, but then would they trust anyone else ?

I doubt it.

Gr