re: Ann: Chinese Mining Fund Signs MoU for St... Split, I would appreciate any figures you can supply but I never expected stage 1 to raise all/ most of the cash needed for St2&3. Just that S1 provided solid cashflow with 80% of the JV. Now we have 30% and all we have in return is $35M which they previously said was going to be provided by the mining contractor.
The NPV will need to factor in lower mining cost because the contractor is not providing the plant (a positive aspect of the funding) plus the lower JV share for IFE (seems like a huge negative) and the need to raise more cash for the next stage.
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