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K3VMC
At over a 60 percent discount for 11 percent of Minto it surely must be worth considering
CAR3Y
I’m looking at my bank accounts this afternoon. I may have enough to buy it myself.
Will get bought out at this price ??
I think with most of the boards, you get your rampers ramp it up sale, it drops rinse and repeat is what they say I think they share is a prime case of that. The market decides the value.
Carrying on.
With all the debt pere needs to pay, it could be another 2 yrs before there a return here.
I'm looking to top up below 5p, to average down.
Where are all the rampers now, saying 14 or 15p.
The biggest problem here is pere only got 11% of the mine not a b!@#$y 100%.
With all the
The problem is that cashflows coming from MNTO will go staight to Gati and it's not clear when MNTO would be able to start paying dividends; until then, PERE has no income. That's not an attractive situation. If you want the upsdie of MNTO, you just buy shares in them directly. With PERE, you're buying into a company with a lot of debt and a very concentrated ownership (Gati). If copper rallies and MNTO makes piles of cash, maybe PERE will start to look attractive as a punt on mean-reversion back to NAV. While I think that it's likely, a more careful investor will look at why Minto was mothballed by Capstone in the first place. Bottom line - MNTO will do very nicely if copper stays elevated or else there'll be a big problem for PERE.
Market also knows that the true NAV of PERE is a lot lower than the value of the investment once you deduct the debt which I estimate at $9.2mm by 31st Dec. With MNTO at $17mm, that’s $8mm NAV vs Mcap $7mm. Plus add on perhaps $0.5mm dilution for options, and it’s trading at NAV.
I think the market knows that Gati is not going to sell PERE'S Minto stake as he is so committed to Minto and gets double bubble being director of both companies. That said, when more is known about the new listed entity, and if all goes well without dilution, the share price will recover IMO.
why has the arse fallen out of this