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It will pop once the 5% boys have knocked themselves out.
70m free float worth noting.
This will be well over 40p by Xmas. Watch this space and I hope those desperate sellers are gone for good.
No news expected. Its just a few people realising that this is the real deal, ripe for a takeover and horribly undervalued, and its not going to drift much lower.
Read the below, appolo have the same resource, same grade and have just had an offer at 4x our market cap. I say same resource, that is until it is upgraded by Xmas. O yeah, we also have the battery metals.
is someone expecting news tomorrow...?
a couple of tick ups...nothing to shout home about yet lol...but i'll take a blue day after the past few trading days...i do hope we have bottomed...we may have but then again will wait to see if that seller shows up to spoil things again...
GLA
Well with the way the market is currently pricing us I’m expecting a full company takeover in the new year.
How much more hints do investors want?
Current Bam gold is worth close to 5 times current sp.
Top 5 postcards for produces.
* China – 368.3 tonnes. For many years, China has been the top producing nation, accounting for 11 percent of global mine production. ...
* Russia – 331.1 tonnes. ...
* Australia – 327.8 tonnes. ...
* United States – 190.2 tonnes. ...
* Canada – 170.6 tonnes. ...
Canada is a very safe jurisdiction.
That's a very interesting bit of news, quite relevant to Landore's BAM Deposit, both in size of current known Au resource (1.015mn oz) and split between indicated and inferred (75/25).
A straight value comparison would suggest this BAM Deposit alone, without any further drilling/delineation, with the other metal resources thrown in for free, could have a similar market valuation, circa £90mn to an industry buyer.
Surely, 1.3mnoz upwards would be the tipping point to attract a realistic outside bid? Or is the Oz infrastructure dramatically superior to N. Ontario, for gold mining?
Gold miner Gold Road Resources has made an all-cash offer to acquire the shares it does not own in Western Australian gold exploration company Apollo Consolidated, for $0.41 (A$0.56) per share.
Apollo Consolidated already received a takeover proposal from Australian firm Ramelius Resources earlier this month.
The unconditional off-market offer implies about $124.3m (A$166m) (fully diluted basis) of equity value for Apollo and a premium to Ramelius’ cash and scrip offer of $0.415 (A$0.5542).
Gold Road said in a statement: “Gold Road’s offer provides Apollo shareholders with a compelling opportunity to realise certain and near-term value for their Apollo shares at an offer price that represents the all-time highest price paid for an Apollo share.”
The offer forms part of Gold Road’s strategy to grow and diversify its growth pipeline with low-risk opportunities in tier one jurisdictions.
Gold Road currently holds a 19.9% stake in the issued share capital of Apollo, which owns the advanced gold project at Lake Rebecca, greenfield gold projects at Yindi and Larkin, and the Louisa nickel-copper sulphide project in the Kimberley.
Subject to a successful outcome, Gold Road plans to carry out continued exploration and studies to advance the Lake Rebecca Project.
Gold Road also intends to grow resources at Lake Rebecca and develop new mining operations.
1.035 million ounce Mineral Resource. The offer implies $124.3m of equity value for Apollo
Lake Rebecca Gold Project (Apollo 100%)*
The Lake Rebecca Gold Project comprises ~160km2 of tenure located approximately 145km east of Kalgoorlie, covering a greenstone belt on the eastern margin of the Norseman-Wiluna Greenstone Belt. The belt lies at the southern end of the Laverton Tectonic Zone, a regionally important structural corridor that hosts multiple gold camps.
The project contains three advanced and growing gold discoveries – Rebecca (previously named Bombora), Duke, and Duchess (previously named Redskin), in which gold mineralisation is hosted by broad zones of disseminated sulphides in gneiss. The boundaries of each system are only partially defined and offer potential for high-grade plunging positions internal to the zones.
In February 2020, Apollo declared a combined 1.035 million ounce Mineral Resource1 at the Lake Rebecca Gold Project, across three deposits and wholly constrained within optimised pit shells. The flagship Rebecca deposit contributes 775,000 ounces, of which 550,000 ounces are at Indicated category. On 20 April 2021, Mineral Resource estimates were revised for the Rebecca, Duchess and Duke deposits following infill and step-out RC and diamond drilling completed in 2020. Total combined in-pit Mineral Resources now stand at 29.1 Million tonnes at 1.2g/t Au for 1.105 Million ounces of gold, 74% of which is at Indicated status.