Hey happy hippy
. I am just trying to understand how you even remotely entertain the possibly of a bad loss with a party just bought 73 million shares yesterday. Do you think they were conned ? I think it is RMS.
Also with the big boss buying more on market (did he buy yesterday?) and now has 20% of the company? Do you think he is about to lose everything with this news from 3 weeks ago with so many shares or does he want to make a mountain of money.
I am interested in your calculations on this big loss chance? Asteroid hit Bronzewing?
Bronzewing Gold Project Lease of Bronzewing Milling Facility
30 June 2016
Highlights
Metaliko enters into an agreement with an independent third party for lease of the Bronzewing Mill
Recommissioning and processing costs to be assumed by the Lessee
Revenue to be received on a dollar-per-tonne basis for ore processed through the mill
Metaliko retains the right to utilise excess throughput capacity to process its own or third
party ore
Further details will be provided when they become available, including the satisfaction of a number of Conditions Precedent
Metaliko Resources Limited
(ASX: MKO) (“Metaliko” or “the Company”) is
pleased to advise that it has entered into an agreement with an independent third party (“Lessee”) for lease of the Bronzewing Milling Facility (“Bronzewing Mill”) for a period of up to three years.
The
Lessee has large tenement holdings within haulage distance of the Bronzewing Mill where reportedly significant gold resources have been defined.
Pursuant to the lease agreement, the Lessee will recommission and operate the Bronzewing
Mill at its cost and pay Metaliko an agreed dollar per tonne lease fee on ore processed through the mill. It is anticipated that the Lessee will process approximately
1Mt per annum of ore feed through the mill.
Metaliko retains the right to process its own or additional third party ore through the Bronzewing Mill on a campaign basis should spare capacity be available. Based on the anticpated throughput by the Lessee significant spare capacity should be available at the 2.3Mtpa nameplate Bronzewing Mill for additional ore treatment.
The Lease Agreement includes a number of Conditions Precedent. These conditions primarily relate to plant refurbishment details and statutory approvals relating to the lease and operation of the mill by a third party. At this time it is expected that refurbishment of the Bronzewing Mill will commence during the September’16 quarter.
Metaliko regards the Lease Agreement as a
significant milestone for the Company whereby the Bronzewing Mill will become operational at minimal cost to the Company and
significant revenue will be received on ore processed by the Lessee. In addition, the ability for Metaliko to process its own or third party ore provides an additional dimension to the transaction with the potential to
generate considerable additional revenue through full utilisation of the Bronzewing Mill capacity once recommissioned.
