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Likely sideways movement until AGM sorted and merger completed on Jan 9th or thereabouts. Then you'll see all the activity being drop fed into market like Porvenir PEA, strategic review results, updates on resource drilling around Alpala but doubt they'll do a PFS2 as inflation numbers will kill any upside. But resource update on ENSA certainly possible after all they need to bolster the value of that asset if they are planning to sell it.
A reminder.... get your AGM votes done if you haven't already. It's easy to do. Just call your broker. In a few days time, the deadline will end and your votes won't be counted.
I have had some more time to read up on this and i think the price is down low because there is no certainty in the market about what will happen. There are people on this board who think they know what will happen next but if it was certain then i think the share price would be much higher because other investors would not want to miss out on a bidding war. So maybe no one actually knows what will happen but I hope we get completely sold by September next year. I suppose there is a chance that no one will bid for ages and the new investors will also wait like the big BHP are waiting. That could mean it takes years but i hope not fingers crossed.
Panto season has started it early I see.
oohhhhhh no it isn't
oohhhhh yes it is
no it isn't
yes it is
NO IT ISN'T
YES IT IS !!!!!
Lol that’s probably why the price is down.
No JV and no production , this will be sold it couldn’t be clearer
What are you on about DBW are you denying that the company recently announced a possible JV to take Alpala to production.
SharketMare the hydroelectric power part is part of the strategic review.
Quady, as rcgl2 pointed out yesterday, hydroelectric power (I can't believe how much airtime has been spent discussing this nonsense, it's becoming the new French translation) is NOT part of the strategic review. Read the RNS.
So Quady your argument is that the share price is so decimated because no one believes a deal will be done and the market Still fears they may actually still be stupid enough to attempt production?
You also said “no one believes there will be a deal”
Well that’s just simply not true
Q, I sort of agree with you about the 50m and don't deny it's confusing. But I also believe that quite a bit of the cash will be set aside for employment and other costs associated with keeping the lights on at Cascabel, which is essential both in terms of pr and making the asset attractive to bidders. We could not mothball the place and expect to achieve a decent price.
I disagree addicknt, it's not about helping out each others argument or world view.
It's about being factual.
The share price show's no interest from any party acquiring us.
Also for production argument.
Why have we raised 50 million that can only be used to advance Cascabel, and cannot be spent on anything else.
The strategic review not only mentioned hydroelectric, but also looking at how to bring Alpala along to production quicker and cheaper.
It seems to have the same outcome as the PFS.
Spot on Addinct well said …..
Q, no, it should remain where it is as it may help your argument.
Morning addicknt.
I think you should move current share price from production list to the list indicative of a deal.
As current share price shows not only no deal, but also no one believes there will be a deal.
these are the indicators:
1) Publicly stated intentions from Sangha, CGP, DGR and Berry Street.
2) Media reports.
3) Cash position.
4) Management situation i.e no full time CEO, CFO or personnel flunkey.
5) SR.
6) State of debt market (although this is a current concern)
7) Inability of a small explorer to take things to production.
8) Composition of new board i.e we are now in the hands of CGP.
9) Reality.
For the Productionistas.
1) Continued reference to funding in SR.
2) Reference to hydroelectric power (for Q)
3) What the company has said up until a few weeks ago (we know this was BS especially as we now know the board have been in discussion with CGP since the summer)
4) Current share price.
5) erm....
Please feel free to add.
Indeed bubble james Clare took a million as well as Scott
Good to see more skin in the game…. Not sure quite what it’ll take for the market to wake up here, it honestly couldn’t be any clearer
Nice timing before an offer
I thought they had too, but I can't see anything on their web site relating to a cash raise. As at 30th Sept they had $1.7m in cash.
addicknt, how much cash does CGP have on their books? I thought they did a placing a while ago to raise $3m?
Once merger sorted, I think we might see another 5% placed... probably at 10p with Irwin and Maxit taking the lion share lol! I am kidding of course or am !?
RK, sorry, just realised you were referring to the director purchases.
Time they bought some
RK, not sure what you mean.
They were part of the recent placing...
RNS - directors purchases in recent fund raising
£160k director buy - that's a hefty chunk.