The Mn option was for 80% ... with a $20 million buyout option on the remaining 20%.
Detractors have suggested that this was merely an arbitrary number drawn up and agreed to by the company ... with no basis on anything tangible.
Of course nothing was tangible in respect of a quantified resource ... however ... clearly potentials existed in order for such numbers to be thrown around and agreed to.
The whole option arrangement is a means to turn the potential into a defined resource ... and the company continues to work to that end.
Now ... getting back to the 20% buyout figure ... from a proponents look ... the price on that percentage of potential was interesting to say the least.
Suppose a day comes where a buyout on the 20% looks probable ... that would suggest that the 80% of potential Sola was originally optioning had a 'potential' value of $80 million.
Looking back at my 'all cash buyout' scenario ... $70 million ... $140 million ... so on ... you start to see what the attraction to the Mn prospect was from the outset.
Now ... nothing of the sort will be possible ... until a resource is defined ... but ... it doesn't take a mountain of Manganite to start adding up to a 'heavy' resource and if Sola can indeed exploit the resource in the early going whilst defining the body(s) they have identified (Jaburis)... then the 20% buyout and my proposed 'all cash offer' scenario will start to look more and more realizable.
The key ... identifying and 'defining' the resource ... it begins and ends ... right there.
The company has to gett'r done.
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