Wie gedenkt Mister Bristow jetzt weiter vorzugehen?
Reaktion vom Management von MGL darauf gleich Null!
Ich sehe schon die anderen Majors hier schlange stehen.
Wer weis ob die nicht nach anderen Assets Ausschau halten.
Eventuell gibt es auch keine anderen die hier mit aufspringen wollen und
Randgold ist einziger Kandidat.
Eins hat er jedenfalls geschafft, er steht auch in der russischen Presse. Dieses Echo wurde wirklich auf der ganzen Welt gehört. Wenn jetzt nicht noch andere Bieter aufstehen, dann ist MGL vielleicht doch nicht so begehrt wie manch einer glauben machen will.
27 фев. 2009
10:44 Randgold ведет переговоры с Moto Goldmines
Исполнительный директор африканской компании Randgold Resources, занимающейся добычей золота, и обладающей существ...
Es ist ein Irrglaube zu denken alles dreht sich nur um Moto und die Majors schlecken sich nur die Finger danach ab, wei folgender Artikel beweist: Auch hier können jährlich 260.000 Unzen mit rund 350 USD/Unze abgebaut werden. Aber lest doch selber:
Banro looking for big brother to help fund DRC gold mine
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By: Liezel Hill
Published on 27th February 2009
Updated 1 hour 2 minutes ago
TORONTO (miningweekly.com) – Canadian gold junior Banro Corp is looking for a strategic partner to take a stake of as much as 60%, possibly in the company itself or its flagship project, and assist in financing the construction and start up of the mine, says president and CEO Mike Prinsloo.
Earlier this month, Banro raised $14-million in a nonbrokered placement, and the firm announced on Wednesday that it had received official confirmation from top-ranking officials in the Democratic Republic of Congo that its mining convention and licences in the country are legal and secure.
The company was not part of the contract review under way in the country, and owns 100% of its projects with no parastatal participation, but wanted official confirmation from government to reassure investors.
Banro also completed a feasibility study this year on the most advanced of its four projects, Twangiza, in the east of the country, and is scheduled to file the NI 43-101 technical report on Friday.
With these key milestones checked off and the price of gold looking mighty attractive, the company finds itself in a “watershed” position, Prinsloo said in an interview at the company's Toronto offices.
Before joining Banro, Prinsloo was the CEO of Johannesburg-based Gold Fields' Business Leadership Academy, prior to which he headed up the gold-miner's South African operations.
He hopes to be able to seal an agreement with a new partner within the next three to six months, and is optimistic that the confirmation of Banro's position in the DRC will allay a lot of concerns that may have stayed the hands of potential buyers.
“That's the first question anyone asks you: 'Are your permits secure?'.
In a research note this week, RBC Capital Markets analyst Cailey Barker said the announcement should be viewed "highly positively".
The $14-million raised this month will cover the company's requirements over the next year, while it holds talks with potential partners, Prinsloo said.
“The fact that we have raised some money takes all the pressure off us from negotiating in an environment where you don't have cash, and people know it.”
The recent arrest of by Rwandan troops of rebel leader Laurent Nkunda will likely also have positive ramifications for the security situation in the eastern DRC, Prinsloo said.
Although the company's assets have not been affected by the violence about 300 km to the north, “that overhang sits with us”.
According to the Twangiza feasibility study, the mine will cost $476-million, including $67-million for Banro's 50% share of a 30 MW hydroelectric plant and a $38,9-million contingency allocation.
While it could likely have raised the cash on a solo basis about 12 to 18 months ago, the company, likes its peers, has had to watch its market capitalisation shrink dramatically, currently below C$100-million at Friday's prices.
Banro would consider a number of options for bringing on a strategic partner, including selling at a project level, at a company level, or a combination of the two.
“But I think we would probably look at just a simple percentage split of the company, at 60:40, where they have 60% and we have 40%,” Prinsloo said.
“I say 60:40; it probably could be 50:50, but whoever buys 50% of Banro would want control, so I think 60% gives the major enough that they can motivate why they are doing it, and it gives us enough that we are not giving away all the upside.”
Partners from across the industry spectrum are being considered, from senior companies, to mid-tier miners, and even private equity investors.
“We are looking for people who are serious, firstly about Africa, but also about the Congo.”
If an agreement is reached with a larger firm, it would also create opportunities for the partner to support some of the completion guarantees for the debt portion of the project finance, or even put up a loan to Banro, which could then be paid back once the project starts generating revenue, Prinsloo said.
Companies with gold assets already in the DRC include AngloGold Ashanti and Randgold Resources, which has said it wants to expand its efforts in the region. Earlier this week, Bloomberg News quoted Randgold CEO Mark Bristow as saying he had made overtures to Moto Goldmines, which is also planning to build a 400 000 oz/y gold mine in the country.
POLISHING THE NUMBERS
Over the next two or three months, Banro will also be reviewing some of the input parameters in the Twangiza feasibility study, as well as completing metallurgical test work on the refractory portion of the orebody.
When the study was being compiled, in the fourth quarter of 2008, prices for steel, diesel and other materials were still relatively strong, although they have since fallen off sharply.
Banro plans to relook at these numbers based on the current pricing outlook, and also expects that the refractory testing should add significant additional ounces into the feasibility study.
These revisions are likely to be completed by mid-April.
The feasibility study as it stands indicates that Banro could produce a total of 2,62-million ounces of gold over 15 years from the mine.
In the first five years, the mine will produce an average of 262 000 oz/y of gold, at average total operating cash costs of $358/oz.
Banro is also keen to explore and develop four satellite targets, which Prinsloo estimates could possible allow the company to double Twangiza's size in the next two years.
Shares in the company slid 0,64% on Friday, to C$1,56 apiece by 12:22 in Toronto. |
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