dales, i think your being disengenous. Chepica payments and credit facilities are manged in staged payments, which is paid by income genearated. Ok, if we decide to pay everthing off in one full go and we dont have owt much left (why would we even do this, unless Jan/bird suffer collective insanity) then i would easily value Chepica at £70m.
I'm with you half way: the first half of your 21:51 looks good reasoning to me, but personally I'm very sceptical that an extraordinary dividend would achieve much besides a temporary fillip to the SP - and possibly lead to further moans down the line. To me the focus remains and should remain on growing the Company to mid-tier, and that will require capital spending, not temporary molification of shareholders. I'd be much happier if a scenario as described by Biogas and Space (what bedfellows!) happened - an RNS to the effect that someone is building or has built a substantial stake in XTR. To me that would be much more lastingly positive for the share price and encourage much needed stability.
I'm not sure that GLR fits the profile describe by JN in the Proactive interview. What he described was a producing asset, although GLR looks interesting, my admittedly limited research of reading their RNS' suggest they're some way off production.
I'd be looking for something that either a distressed seller or the likes of Randgold had decided wasn't a core asset, as what JN is looking for.
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