chalice's golden pay day, page-5

good discussion guys and thanks for the detailed posts. I had meant to get in earlier to clarify the Nevsun situation, so some of this is repeated but to summarise anyway;

ENAMCO paid a down payment of $25M in 2007 then paid 33.33% of the capex of $240M. The interesting thing is that ENAMCO effectively 'carried' Nevsun when their debt funding fell over in late 2009.

What they're now negotiating is the balance of the payment for the 30% and that will come down to discount rate and long term metal prices....which is the same as for CHN but more complicated due to the longer mine life and polymetallic production.