If it’s a small CR then I believe that a cornerstone investor could be close. If it’s a big raise then I believe a cornerstone could be a long way off. We will find out on Monday I suppose, but then again Magnis has a penchant for converting a TH into a Voluntary Suspension, so who knows...
With the recent developments in Tanzania (Walkabout being issued a ML) I think Magnis’ strategy (or hopes) of securing a JV partner for Nachu definitely got a shot in the arm.
On the subject of Nachu, has anyone heard how the BFS reassessment is coming along?
Excerpt from the announcement dated 9 March 2018 (Agreement reached with Tanzanian Government to progress Nachu development):-
Based on the Bankable Feasibility Study (BFS) completed in 2016, the majority of the capital investment will now be made by MTT at approximately $230 million (USD) with the remainder by Uranex at approximately $40 million (USD). The only capital expenditure associated with Uranex will be for the tailings dam and site water supply system. The SEZ is sited over the original SML plant infrastructure location allowing for continued best case economics for ore transportation. Magnis will now reassess the previous BFS with revised pricing and obtain separate Capex and Opex costs for both MTT and Uranex.
MNS Price at posting:
38.0¢ Sentiment: None Disclosure: Not Held
(20min delay)
