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could someone please give me a good/reasonable reason why CMC...

  1. 173 Posts.
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    could someone please give me a good/reasonable reason why CMC want to delay payment?
    I've heard this idea a number of times.

    some thoughts:
    -CMC have signed a contract to buy the mine. that would mean they intend to mine it.
    -they've already paid out $1mil
    -they are now also solely responsible for environmental restoration of Potia/Nth Potia.
    -every day that 'they deliberately delay it' is a day longer before they start getting income from processing.
    -gold price is at all time high prices atm.
    -if HAV run into financial trouble that does not mean CMC don't have to honour their contract.

    -I wonder wether it's CMC that are the ones struggling for finance: maybe the metallurgical test work has shown that they'll need to spend a lot more than originally intended to modify the mill. that plus the $3.5mil might be too much for them.

    maybe I've missed something and can't see why it's so beneficial for them to delay deliberately.

    thoughts?
    justhavinago
 
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