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Bf, it certainly will not be any earlier than next week, as there is a 7 working day exclusion period, once the notice of intention is filed, ....GL S
if it's a cross trade,it could well be strategic.
Next week apparently
https://ceo.ca/vo?036f0967789b
f29, I think your logic is sound and agreed that there are a lot scenarios possible,.....GL S
The sale could be necessary/requested by VO to accommodate an interested 3rd party and be requested from them to JAN to aide the transaction.If that were the case then the sp increase of the remaining 20% would be huge -just suposition,but lots of scenarios possible
DCAT - that may explain why they released a Fodere update. Prequel to further investment? Pure speculation of course. Personally, I would hope that the funds are being funnelled into the next stage development of Pitombeiras.
Tex
It is understandable that the default for some will be cynical, based upon some significant misjudgments in the past, that said, I would suggest there is enough evidence to demonstrate the board and in particular, our two largest shareholders are more strategic than running Jangada as a lifestyle vehicle and therefore I would conclude/speculate that it is feasible, that another additional material event is close, the key question for me, what could it be?........GL S
I think we have to take this as a sign that there could be some terrific progress being made with Pitombeiras.
Best add I don’t think pitombeiras is going to hell!!
Certainly reason for reducing ownership in Valore and future intentions is a question whether raising in next shareholder Q&A of not answered before.
Someone else I know just suggested possible further investment into fodere.
Might see some spooked a little, but ultimately even if pitombeiras went to hell I’d still expect our holding in Valore to be significantly more than current MC in the future. Do need some rationale from the company though, can’t say we’re a happy shareholding in Valore advise we’re selling shares and then not provide the reason behind it. Hopefully all becomes clear in the news expected shortly..
Very interesting, 5m is a material amount which must be earmarked for short term usage.
ValOre will be on an upwards trajectory in the coming months, so this amount must be required now, otherwise you would just sell small amounts as and when, in order to maximise your sale price.
JORC and PEA are funded, so next step could be a potential trial mining license and then low cost production plan.
Or (unlikely in my book) they are about to acquire a new asset.
I would hope this is clarified in the short term news flow we are expecting.
Tex
Interesting. Will have to think things through. Immediate thoughts
Better than a placing at Jangada.
How quickly are shares sold when such form issued on TSX? Is it intentional to sell, but over a long period (say a year) or more sudden.
If more sudden then why? Why the urgency for cash? We spent less on drilling that planned and without reduced drilling also had cash to cover Jorc and PEA
Could capital be required to unlock other financing? For example have we agreed financing for capex required for trial mining, but require an element of equity?
If this is capital to unlock further financing that gives us a route to production then it’s great. If not why sell 5m shares in Valore? Why not sell say just 1m?
Great.
Thanks swizz. DS
DS, I posted the below a few weeks ago and it is as relevant today as it was then, there needs to be a collective understanding of where we are in the project pathway, We are on the cusp of a key milestone and our maiden JORC numbers, potentially exceptional numbers, the next steps will need a strategic approach to the funding requirements and we also need to demonstrate robust financial independence, I think this is a clear sign of intent and is in keeping with the board’s priorities, perhaps a time to consider what is coming next?,.....GL S
I am not as pessimistic as you are, as the board have noted on a number of occasions, that they are fully funded for this stage of the project development, as in exploration, JORC and PEA and cash at year end, plus the final cash payment from ValOre, would equate to circa £1m, not the £300k you suggest, for reference, it is noted in the recent corporate presentation (June 2020) as c$1.5m.
That said, it is understandable that funding will be needed at some stage further down the project pathway, probably the key question is, what financial instruments will they consider?, the board have demonstrated a reluctance to issue equity at low premiums and that in part may be aligned to their significant shareholding and their understanding of the assets they hold, plus there is the option to liquidate part of our ValOre holding, that as an option I would suggest will become more viable as the Autumn and Winter approach, as the news flow and results from the PB drill campaign will be far more advanced, plus dependent on the output of the JORC and PEA, there will be a greater market understanding of the Pitomberias asset value, which may lead to an improving share price, which in turn, could potentially lead to warrants being exercised,
I would also not dismiss the availability of project based finance models, this was a consideration previously and the £1m loan terms with Celtic Capital, were very sensible, they know the board and asset very well, plus as you say, a JV or even an off take agreement could also be considered and as the ore is near surface, a relatively modest capex plan could be developed, so at this point I think there is a lot more of the story at Jangada and ValOre to unfold, before we reach the stage of finding the right funding answers, to the production stage of the asset,....GL S
Thanks Swizz.
Bf/DS, they are not sold yet, nothing has been submitted to SEDI, it is procedural at this stage and the 45/102 form has been registered in Sedar and Jangada are doing everything as it should be done, it should not be a huge surprise to anyone that Pitomberias Vanadium and TiO2 project is the number one objective, if ValOre deliver some exceptional drill results, perhaps it is not too ridiculous to consider divesting part of our holding, I would much rather have that finance pathway, ....GL S
There has been a big anonymous seller of VO stock for a while. Could that have been Jangada or a party acting for it?
That's where I got it from too. I don't know if it's happened yet. I'm waiting for Swizz's take!
where has this info come from??
It looks like we've all been surprised y this one, but there was always a chance it was going to happen and at least it minimises any dilution we might encounter from having to raise more money. Let's hope this is going to be put to good use
Swizz - what's your take on the proposed 5m share sale of Valore shares? Shouldn't that have been RNSed?