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badge0913

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badge0913

Re: baystock1 post# 56461

Monday, 09/26/2016 1:33:01 PM

Monday, September 26, 2016 1:33:01 PM

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"So why didn't they do a JV for Namoya instead of taking on so much debt and mine startup expenses that it nearly bankrupted them ?"

Most likely because it was only their second mine and didn't expect the mistakes that happened. The overrun costs hampered their free cash in paying for the other two mine startups.

Regardless .. it is what it is .. and doing a JV to have more free cash in improving their 2 producing mines makes sense. Plus they have so much other land (in a rich, mineral area) that has yet to be explored.
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