I don't think Stewart had much choice here, Variscan need the cash.
Junior jv partners seem to attract a reduced value in a project.
It is good news for Apollo if they can proceed to drilling, I suspect they will get approval from the French Govt.
I hope that they don't rush the offloading of TMZ shares, there should be a lot more value to be extracted there with a lot of drilling over the next few months.
Stewart inherited a mess and he is slowly cleaning it all up.
My understanding is that more projects are going to be put in to Variscan.
They are at shell value, unfortunately, they have quite a few shares on issue.
'Our previously announced corporate re-organisation process and cost reduction programme is accelerating and I look forward to providing further developments in due course’.
Maybe, selling off part of Variscan Mines Europe Limited (share issue) to raise more cash will happen down the track.
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