Final Date for PNG

[nate]

What is the last day PNG can increase their position? Any speculation as to what PNG will do?

[maui4marko]

What is the last day PNG can increase their position? Any speculation as to what PNG will do?

nate, this was noted in the Key milestones to Production thread as follows:

First 5% option for additional interest in the Solwara 1 Project by the State -- June 11, 2015

If PNG doesn't take the first 5%, they are disqualified from the additional two 5% options.  Given that the PNG budget is way overspent, they will have to make some hard decisions if they are to invest up to another $120M.  But in the end the expected payback will be too hard to resist and I personally expect them to opt in on all 3 of the remaining 5% options.

[seabedmining]

If PNG doesn't take the first 5%, they are disqualified from the additional two 5% options.  Given that the PNG budget is way overspent, they will have to make some hard decisions if they are to invest up to another $120M.  But in the end the expected payback will be too hard to resist and I personally expect them to opt in on all 3 of the remaining 5% options.

I would also bet on: yes, they will take the 15% - look at the next Solwara location this is the real money bringer for PNG (and us) - initial cost from... let's say 10-20 million will bring 1.5 - 2 billion dollars - PNG would be stupid not to support NUS with it's money!!!