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Don't know about Lyra, but that's true for OMI.
Am I correct in saying they haven’t even drilled yet on Lyra Bhargav?
Ceo said-
I would not read much into the Lyra articles.
But the move from Zijin creates a new much more dynamic scenario.
The map looks well juicy on investor81 link looks like some nice red bloobs on anza. Newmont must be a bit worried that the Chinese are come.
I already have emailed him this morning :)
And I shall share the response I get.
IMO, the key difference is the contract between Newmont/ CG and Newmont/OMI or Outcorp. With OMI and Outcorp, Newmont has choice to access the project for first few years before committing 51% and JV, whilst with CG they have stake interest and CG to dictate the game. And I'm not surprised for NM tactics to flog it at some premium.
With Us, they've better bargain and are in for long haul at this moment (sadly :) ).
Although, I hope Zijin to step in with an offer, it seems unlikely.
As far as Newmont ditching Columbia? Possibly, you never know.
In the meantime we are in a waiting game which will continue for .........
I'm afraid.
There are so many computations here now, will Newmont concentrate on Anza now that Continental have gone or will they ditch Columbia altogether leaving Omi isolated and vulnerable, or will Zijin step in with an offer for Anza ? Will need clarifying soon. Come on bhargav get on the phone to your mate.
Nice find investor and explains Newmonts tactics and plans for the region very well.
There here for the long haul and so am I.
"Output at Zijin Mountain, China’s top gold mine which the producer is named for, is dropping because of depleting resources." - Hopefully the acquisition doesn't stop at Continental Gold. If Anza turns out to be similar to Buritica, I'm sure OMI will be snapped up as well.
Maybe Zijin will buy out Orosur as well !
"The world’s largest gold company, Newmont Goldcorp (NYSE: NEM)(TSX: NGT) said in a separate statement that it would support Zijin’s bid to acquire Continental by selling its 19.9% equity stake in the Canadian miner and its convertible bond for $260 million."
Not sure if it's good that newmont want to sell up?
Any thoughts on the Zijin Mining takeover of Continental Gold as Newmont owns about 20% and how this could affect Anza considering the security issues now being resolved. Could be very interesting timing !
I agree Bhargav. Speaking to the CEO directly has to be the best way to get an understanding of the dynamics here. I appreciate your reply. I feel things are moving in the right direction albeit slowly and, as you mentioned in your summary OMI will be looking to get Newmont to speed things up, so this is a big positive imo. Also you are still aiming to get to 1 million shares so you must be positive overall from what info you gained from th AGM. Due to work commitments , i was unable to attend the meeting however i do feel more confident about things here following the AGM.
Vicjain- You learn more about this business in one hour at the AGM then entire year here. I'm surprised most (particularly long termers) don't turn up at the meeting. Out of respect for you, if you've any questions or need more in detail, please let me know, bhargav66@hotmail.com.
Good to see a good blue day for a change....not seen that for a long time. A couple of big buys as well. Wonder if someone in the know or are some deciding now is a good time to buy after the AGM. Things ticking along slowly but in the right direction. Hope this is the start of an upwards correction....Thanks for your summary of the meeting Bhargav. Lets hope OMI can get Newmont to get a move on here finally.