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We have a gold price of $2200. I expect gold to rise significantly this year, let's say due to certain circumstances such as interest rate cuts... to $2500 and further in the next few years. A smart seller has this in mind. A sale price below £240,000,000 would be a management disgrace.
Maybe but everything is budgeted at Calibre and no comment of requirements over their enormous cash pile. The raise referenced everything you could conceivably spend the money on and was careful not to say it was for anything in particular. I suspect it is to fill the cashpot once Calibre make an offer on Condor so technically the raise was simply to cover the expected offer for Condor or another mine. Maybe its a rainy day fund and taking advantage of share price but they will be adding $100ms this year and massively cashflow positive since gold went to $2200. There is definitely something more they plan to do as holding $230m that will be $300m very soon is not their plan.
Or £58 m if you want it in brexit. How much cash do you think calibre need for their new projects and ongoing explo etc. just remember Simms , calibre paid $100m for the two mines they bought and have been making cash ever since I don’t think they will want to pay what many here hope for. The raise was for exactly what it said on the tin and I think it more likely rules them out!
Ilka, I fear that was a dream price long extinguished unfortunately! Nice to see long term lurkers commenting as well.
Less than 1 pound is crazy, complete failure
But did exchange rates lol
Beat you to it lol.
The raise was C$100m so only $74m
Simms, calibre raised $100m CAD, so technically $73m USD.
Yeah, hopefully either Calibre or the Chinese companies will firm up a bid and then we may see a bidding war start. That would be the ideal scenario.
Could be a flurry of buys today just in case anything announced next week. There is no way Calibre, out of the blue, raised $100m cash for existing projects etc given it will have well over $130m in cash by now so this will make it $250m. All of their current projects are on schedule and on budget. If they raise this sort of money to fill a gaping hole that their cash reserves were not able to cover Calibre shares would crash but there is nothing they have been saying of any short fall. The raise of $100m was purposely very very vague in details. maybe they are going after another target but i doubt any will be as compelling as condor as within 3 months they can be pouring trucking gold from Americas and at $2200 gold they can get this upfront cost repaid very quickly.
Well I’ve sat in condor for 12 years never posted but always read the posts. Like a few on here I’m going light at the end of the tunnel, a few times over the years I have felt this is it. My original target was £1.50 then a £1. Now would be happy with 60p hope we all have something to celebrate in the next couple of weeks
Surely news next week?!
Need to close above 25.85 to be a proper resistance break, but looking good and RSI is still not too overbought.
The same as today Sakura7!
Great to see we finally broke the resistance of 25p. Next leg up could be a lot faster. Going into next week could be interesting and only just one day left of the week to fill those boots! Feeling that things are all coming together.
Exhumed. I can't see them being a million miles away in 2024.
PoG $1700 at 54% IRR - NPV $418m.
PoG $2000 at 74% IRR - NPV $628m.
PoG $2200 at 87% IRR - NPV $769m
So, at a guess, $2100 PoG would yield around $700m NPV.
If we discounted (I'm not talking DCF here) that by 80%, we sit at a possible bid of $140m, or £110m. Over 200m and we are at 55p. Add a handful of exercised options and take a bit off for taxes and transaction costs and it's not hard to come up with 50p.
Of course if it's more like a 75% discount to NPV you have a different set of numbers; maybe in the 60p+ range, depending on assumptions.
Predictions for close tomorrow ?
Thanks @condor_forever, I see it:
Filed 2024-03-14 03:17
Tx date 2024-03-14 $CXB
Calibre Mining Corp. King, Ryan
5 - Senior Officer of Issuer
Direct Ownership
Common Shares
10 - Acquisition or disposition in the public market $3,560
+2,000 vol $1.78 each
New Balance 398,200
There seem to have been quite a lot of insider transactions in the past six months, so I clearly can't trust yahoo :(
Baldmark, its on the SEDI filings for calibre. Can't post a different link but you can go on the cxb forum and scroll to the 14th march and click on the link there to confirm.
https://ceo.ca/cxb
If it was Condor that he bought, that completely rules out any bid from Calibre! Of course, if he thinks a deal is close from another buyer, he is perfectly free to buy Condor on the open market (as long as he is not privy to inside info).
@condor_forever, You say "One board member of calibre bought on the open market last week (14th March)." I assume you mean bought shares of Condor since, according to Yahoo, no insiders have bought Calibre shares recently (https://finance.yahoo.com/quote/CXB.TO/insider-transactions). This is clearly very relevant re a possible Calibre bid. What is your source of this information?
You are always optimistic Simms!
Yeah, we all live in some kind of crazy hope and expectation!
Nice to see positivity return alongside some new posters
Even if much of the activity is us LTH echo chambering our opinions on might/should