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Sorry, it was $60m USD, $80m CAD. Not a great return/example. They are waiting on some licences I think. We are more derisked.
Https://ceo.ca/@accesswire/cerrado-gold-signs-option-and-loan-agreements-with
Looks like cerrado needed money to pursue their other assets. They sold an FS study $390m USD for $80m USD.
Lucky you, have thought about going there, as it looks lovely. What's the temp like in March?
We usually go to Lanzarote in Feb, but after this year we are giving up on it. It was oh so windy!
Although Condor normally publish their audited accounts in March, they do have until the end of June under AIM rules. I think we will see them soon, but it could be a long wait.
Correct. I had completely forgotten. The joy of being in holiday mode in Madeira. I think the TSX is open on Monday so there maybe a CoB release, though Tuesday now looks likely. Having said that a CoB release today is still possible.
i thought the markets were closed on friday and monday, so i doubt we will get any news until at least tuesday.
used to love bank holidays until i started working for my self. think they're a pain in the **** now.
The annual report window opened up today. It could still appear at CoB today although my money is on tomorrow, with a possibility of Monday. Something will be said even if it’s nothing we haven’t worked out, know already, or guessed. I’ve got some DS Smith at the moment and have been enjoying the ride on competing bids. If only…
Good spot
Https://ceo.ca/@newswire/orford-announces-acquisition-by-alamos-gold-at-a-significant
It was a small acquisition of only $24m but it was a 134% premium to the SP at the time. At these prices, a bigger premium is probably nothing in the grand scheme of things.
Lets hope so. I'm up for a 1st April announcement but getting on for 15 months and if we had pulled the trigger we would be about to go into production at a record high in gold prices. Lets hope that handshake was firm and no hint of weakness :)
Trades have dried up probably because the buyer is waiting for the SP to cool down after it's recent thrashing!
Fingers crossed Slim, but WTF knows for sure!
I hope you're right Slim!
Won't hold you to it though, we all know how slow they work here.
GLA
To be fair it’s been 2 weeks since the hand shake and exchange of words I will stick my neck out and say within the next week
Big Jim's idea of 'very, very soon' clearly differs from mine, lol. Time for Onion to provide us shareholders with an update. I said before we were heading for April Fools Day and I may have not been too far wrong. This wait has become unbelievably tedious now.
Trades have dried up a lot compared to last week.
I was getting hopeful of a conclusion with all the buying, thought there might have been a bit of a leak.
Will we get a result before the financial year ends??
I wish they would, I've got shares I would like to put money in, but no funds available.
GLA.
It's a case of who blinks first. Mellon may think the bids thus far cheeky, but the bidders know that as time passes, the company's cash reserves start to run out and Mellon may again have to inject more of his own money back into company.
It seems there is little appetite for a bidding war, which is what Jim and Mark were hopeful of.
Gold has done very well but that hasn't fed through into the share values of gold miners especially juniors so there is no uplift from there either.
This is why the inability to actually start mining is a real drag. Looking at this whole sale process, it just seems weird now, it's taken far longer than expected you wonder if anything is actually going on.
Exposure to robust project economics from the January 2024 PEA outlining an after-tax IRR of 57% and an after-tax NPV discounted at 5% of US$292M2
Jurisdiction diversification reducing risk concentration associated with individual projects or regions
Exposure to an expected 15-year mine life, with a phased development plan and resources of 1,183,000 ounces of gold grading 1.18 g/t in indicated mineral resources, and an additional 582,000 ounces of gold grading 0.98 g/t in inferred mineral resources.
//
Nicking ddd's post seems that he's in sensible guidance
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.
Https://makominingcorp.com/news-media/press-releases/index.php?content_id=348
Mako have done well to use their overvalued paper to buy a small junior explorer for $33m, a 40% premium of the current so of goldsource. Goldsource have just the single project in Guyana and just released a PEA with an NPV of $292m at $1850 gold. Just over 0.1 book value, not a massive capex spend either, similar to our capex.
I think with all the snippets of information including Jim Mellon comment, recent Visits to Nic, land deals talked about by Book5 and so on there is plenty to give confidence. whether it is China or Calibre we will see or something completely different. Mako are booming as well. It would be interesting if the news came prior to final results. we will see but all looking very positive but just a time to wait.
Silver.......the currency of the people thelearner
The Annual Report is due in the next few days.
We’ll either get an announcement of a deal, or an ‘advanced discussions’ type note in the review. After months of silence it really is time to say something.
There is always the possibility of ‘talks abandoned; we are raising the money to build a mine’, though I don’t really see that.
I remain in the 50p - 65p camp with a flag on 50p.
Disconnected between gold pricè rise and miner share prices. If you listen to Rick Rule he says this lag exists in every gold price rise, and the lag for junior explorers is longer than the lag for big producers. He also says that right now, even although gold has increased so have extraction costs and for majors so far no real increase in net profits.
But he is very bullish on future gold price, and says silver also lags gold but likely silver price increase will be greater.
I guess like many here, hoping for news soon. I would take 40p now but hoping for more, rather than wait another year for 50 or 60p. Nicaraguan got will want to see a mine here producing revenue in the not too distant future.
Mark apparently readying his Magic Hat.........
Such is our cycle.
Anyone heard from BOD yet?