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Good point, so a clean single asset is preferable
Most mid/large producers do not want the hassle of dealing with non-core licenses for a host of reasons. Risks of litigation due to issues unrelated to the asset of interest, added exploration budgeting towards non-core interests (prev. signed binding agreements), non-core metals (bring up ESG issues) etc.. They don't have time deal with that cr*p. I think it will be a clean transaction solely for Verkhuba.
They wont be triggered at this price but a level or two up at least which when taking spreads etc into account would mean selling would be at these levels/a level up meaning that anyone buying now or above would have to content with a fair bit of selling at their spread loss/be level before they would see profit. Take into account the risk of a deal not concluding/being delayed to announced timelines (which is common in AIM) which would cause SP drift makes it a highly questionable endeavour to buy in now.
If you rerun the pit optimisation analysis on the open pit part only with the new data in the JORC, the haircut between NPV and current value has got even wider, no wonder buyers/partners are circling. To get a clearer picture, you'd have to be in the data room.
Nice work by the CEO and pathway to i) permitting and production can be set out and/or ii) additional drilling to move to indicated. Those would reduce the haircut and have a rather nice sp impact (all my calcs are for fully diluted). Easy hold at this stage.
You then think, wouldn't it be easier for a buyer to bid for the whole of EST? I'm only half joking, if a bidder called him and gave him an informal bid number, think of the sp level needed to even carry on that conversation
Nice to see some massive potential M&A in the sector. Things are hotting up
Mistake there, it's a presentation to share holders which is even better
East Star Resources Plc (LSE:EST), the Kazakhstan focused copper exploration and resource development company, will host
a short presentation and discussion via the Investor Meet Company platform at 11 a.m. BST on Wednesday, 1 May 2024
("Webcast") following the publication of the Company's maiden JORC Inferred Mineral Resource for the Verkhuba Copper
Deposit. A PDF copy of the presentation will be made available on the Company's website at www.eaststarplc.com at or
around 7.00 a.m. on 1 May 2024 and a recording of the Webcast will be made available on the website later that day.
The presentation is open to all existing and potential shareholders. Questions can be submitted pre‐event via your Investor
Meet Company dashboard up until 9 a.m. on 30 April 2024, or at any time during the live presentation.
Investors can sign up to Investor Meet Company for free and add East Star Resources Plc in order to attend the Webcast
via: https://www.investormeetcompany.com/east‐star‐resources‐plc/register‐investor.
No material new financial or other information will be provided.
East Star Resources Plc
Alex Walker, Chief Executive Officer
Tel: +44 (0)20 7390 0234 (via Vigo Consulting)
SI Capital (Corporate Broker)
Nick Emerson
Tel: +44 (0)1483 413 500
Peterhouse Capital Limited (Corporate Broker)
Peter Greensmith
Tel: +44 (0) 20 7469 0930
Vigo Consulting (Investor Relations)
Ben Simons / Peter Jacob
Tel: +44 (0)20 7390 0234
About East Star Resources Plc
East Star Resources is focused on copper exploration and resource development. With eight licences covering >1,000 km²
in three mineral rich districts of Kazakhstan, East Star is undertaking an intensive exploration programme, applying
modern geophysics to discover minerals in levels that were not previously explored.
Hi All,
Link directly here or go to their website https://otp.tools.investis.com/Utilities/PDFDownload.aspx?Newsid=1812976
You think 3p warrants are goingto be triggered at this price, let alone those warrants above? Brotha, I need whatever pills you're taking!
In the great scheme of things it’ll mean nothing. This is a genuine investment case for a junior miner unlike so much junk on AIM.
The Verkuba deal will be closed in June or possibly sooner, and if you’re looking for liquidity I’ve no doubt that announcement will provide it.
Furthermore, who’s to say shares will be sold into the market at this early stage with so much on offer. All
Imo.
65M in warrants and options just waiting to be exercised of which 50M are warrants with 36.4M of them at 3p. That is a heck of a lot of dilution and a massive headwind on the shareprice. Will take a tonne of liquidity to get through it all, far more than is currently traded on average per day
Https://youtu.be/Buy-ED1Fc_o?si=t3i3ETWi9-cg6UwH
Zak has conducted an interview with Alex this morning
Hmm... More going on here than we know. Nice start to the day too.
Https://www.kazakhmys.kz/en/about
Kaz minerals. Great find.
I translated the Facebook post.
“mine, East
Star Resources pc CEO Alex
The meeting with Walker was a fire.
The parties are from East
Kazakhstan region
discussed the possibilities of joint implementation of obiects exploration projects.
Alex Walker owns his company in Kazakhstan
He shared information about the work he is doing in his district and expressed his interest in our project. In the near future, our technical specialists
A visit to the facilities is planned.
A meeting was held with the general director of British East
Star Resources olc Alex
Walker in the office of Kazakhmys Barlau.
The parties discussed the“
One of EST shareholders found a great article, in their tweet here https://x.com/Abacus194177/status/1782852302870639088
This appears very similar to EUA back in the day , huge potential resources in the ground worth billions and potential for a sale or JV.
Alex seems a lot more switched on and hopefully there are no aggressive actions in region which put an end to EUAs dreams of a sale.
Glad to be holding here and let's see how this turns out
5%!!! No point in trying to keep the lid on it....
What would Alex take for a full sale...needs to be a very tempting offer.
Correction 5% of 3 billion is 150 million.
Equates to around 60p per share.
Time for my pills!
If we assume that we discount the value in the ground by at least 95% to allow for all the costs involved in getting to selling the stuff, that still values EST (just Verkhuba) at £300m.
Present valuation of EST is c£8.7 m
Any thoughts?
Let's close this chapter. We've got a lot to look forward to in EST.
*nasty
Crocton has disappeared with his tail between his legs.
Andy liar he is
Shake hands men. Bigger things afoot here.
Hey Crofton...
Still waiting on you to reply ;)
236k T of copper @ $10000= $2.36B
313k T of zinc @ say $2500= $782m
Total say $3B plus a bit of lead..
Of course, this is still in the ground and is valued much, much, lower by orders of magnitude, plus even that top line market value needs discounting for both time and cost. Our friends in the data room will be busy with their spreadsheets modelling this, which is beyond my capabilities; but I suggest the value of EST even at this early stage must easilt justify AW's assertion that "the value of Verkhuba alone significantly exceeds the current market capitalisation of the Company", reaffirmed when the SP was pushing 3p.
I would expect the SP and Mcap, still only £8.5M, to trend higher once this news gets digested. Not that i know anything, mind, so dyor, etc, etc....
Iptuf93..... are you saying 318,000 tons of copper? Is it me being thick, thought copper was at nearly $10,000 per ton
But my calculation seems astronomical!