Guess your right, but if they want the goose that's laying the golden eggs then I personally would also take the opportunity of offloading our "dead" investments, namely Deli and possibly Silverton - it's all or nothing but at a significant premium. It will unfold soon I guess.
Bannor, problem is, as ever, due to poor communication and lack of updates we don't know enough as to why this volume is occurring. If there is isn't a RNS of some description next week it would be very poor and a blatant disregard for investors and the rules . Nothing new I know.
Whitematter Going back to Aug 2013 any RNS with reference to Mutsk has always included a bit on "About the Mutsk Project" which always mentions the Amulsar deposit (4.1 million ounces @ 1g/t Au) being 30Km to the northwest of Mutsk. Perhaps he was tasked (by the BoD) with trying to make out that these sudden large purchases is potentially an innocent attempt by somebody (Lydian) to acquire ORE rather than that there is any insider trading going on, as his general view was that acquisitions of junior miners/explorers is buoyant at the moment - *******s. What struck me was that he made a point of stating that the placing was not at a very high discount "15% to 20%" - which was complete *******s!, hence he was intimating that the purchaser must be happy to pay the extra on the open market to acquire the entire business (because the placing discount is minimal). Again unless I'm mistaken this is also complete *******s, the placing shares represent 29.8% of the enlarged issued capital, so if somebody wanted to acquire ORE surely they could have taken all the placing shares (at the discount) and then purchased the remaining 16 million on the open market to hold 30% of the issued capital, they then could submit a formal bid to acquire the Company. Hence my comment that in my view the guy didn't know what he was talking about - paid by the BoD of ORE to try and deflect what is going on, perhaps on the back of Jibbers contact with the FCA, who knows. Either way it doesn't hide the fact that somebody started buying on mass on the day a large discounted placing was announced - no sane person would do that with a tin pot £1m market cap junior explorer unless they knew there was a profit to be made, even by paying 60% more than they need to!. It stinks.
You sure they have the money ... they've restructured debt to progress amulsar & CAD$11M isn't a huge amount IMO.
How much do you think they would or could pay to buy us out?.....how much per share do you think us long term holders would accept as there would need to be a vote on it.
I would much prefer to see them in a JV… say throw us USD$5M for 25% then fund the costs through to BFS for an additional 26%.....many ways to create a partnership without selling the family silver. In the interim they can buy shares as well to increase their exposure to the resource & hopefully eventually push the price up some.
Personally I wouldn't be happy for a buyout at less than .5 share to at least get the bulk of my investment back, otherwise I'd rather wait & see how it all pans out without them.
Just my opinion though I'm sure others, much brighter than me will differ...
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