My take is that the JV announcement will happen when the project is cleared to proceed which can only happen when any legal wrangling over permissions/ licence et al has been resolved. I broadly agree with Eyeguy's and Kingivor's assessments and expect a MCAP circa £15-20m with a sensible JV announcement ... and by sensible I mean £10m+ cash on the table to fund to production that will allow this asset to be realised and avoid a very costly dilution; structuring of any deal will be… Read More
Yes kingivor. I note project NPV's not too dissimilar to kefi's tulu kapi. They haven't a JV partner yet - if you don't include the Ethiopian government stake and they still need their finance. And they have an mcap 5x this. Shows how undervalued this is. And I'm bullish on kefi and think that's too low. It will all kick off soon I'm sure
Being realistic the Unknown company would need to bring cash to the table. Otherwise there is nothing in it for OTC. With a big cash injection then hopefully they can source more debt at project level. If this project is on, this is far too cheap for a PFS miner which according to the March RNS will start mining in july. These stocks normally would command £15-30 mill mcaps depending on gold price, sentiment etc
Clearly the Sturec project is not going to proceed without a Slovak mining partner. My best estimate based on the published 8% discounted NPV is for OTC to receive in excess of $10,000,000 cash for 51% of the Sturec project. The local partner to bring Slovak bank debt to the project and in house finance and mining expertise.
This should capitalise Ortac at circa £8m plus African investments say £2m plus further £8m enterprise value for Sturec going forward . I can reasonably… Read More
Yep. That's my take. Some here think Slovakia won't happen. If it does then a serious re rate is on the cards as currently this isn't priced in. I think based on the history here it as probably right for this not to be priced in but the past 2 RNS are moving this IMO from unlikely to happen to very likely to happen. When this happens and JV if positive and legally binding then I'm sure we will all be rewarded handsomely for our patience. But let's not forget this company has other projects… Read More
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