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A reasonable conclusion sg, I'm not sure someone would pay more for new perl as no permit but then you have a valid point ie not a competitor on their doorstep.
Yes Jon, it's all riding on Cs but Weare now a production company. Big difference. Look at tym, it was all riding on the reindeer moving and they didn't.
If CS is sold then surely NewPerl will be bundled in with it. The buyer wouldn't want a potential future competitor on its doorstep!
Rodster, that's my concern, I don't think that any of the other projects are close to providing shareholder value so for me, it's probably all riding on the outcome of CS one way or the other.
Most dismiss young pc. Dad is setting him up. Guaranteed. Pc will make a fortune and retire and young pc will take over the gold and silver. Cs project will fly.
If CS is sold what does that do to the SP?
Great theory Jon. I would say value from rest of projects is zero. Wish I was wrong but every sres project is up for sale or jv. Which makes me think to fund gold or silver is sell Cs. New perl no chance as no permit. Pc stated gold and silver. How are we going to finance it along with the mine. I don't know but it will need a huge placing and pc doesn't like placing. The vest news today is bod their wages at. 195.
Hi Rodster.
My theorising was only based on Terrafin suggesting PC could sell up and walk away a multi millionaire. Which to me, read as selling the whole company.
I was just asking the question about what value do the other projects add to the purchase price in that scenario. Based on you reply, presumably no value. They only have value once permitted?
It would be good to hear your thoughts on what might happen over the next 2-3 years. If CS is sold and the money is used to develop the other projects then it sounds like it might be worth holding the shares longer term to maximise investor return.
Jon.
Jon, why would a big buyer but new perl which doesn't have a permit. Better to sell the project which does finally have a permit.
How are we going to fund bay or a gold project while raising funds for Cs.
Its simple Cs will be sold.
I can't get too excited about Gold or Silver for the simple fact that we will probably have to wait about 2-3 years for anything to happen.
Correction: ~20% :-)
By comparison gold is up around 5%. The gold/silver ratio has dropped from ~120 in March to ~75 today.
Wondering if Dubliner will discuss these other projects in his weekend post, which I'm eagerly awaiting!
I was thinking more along the lines of the other Pozzolan and Perlite projects if someone like Boral were to make an offer. Has enough scoping studies been done on those sites for them to add good value to the buy out price?
Also, if someone like Boral came in, would they want the precious metal projects? Stonewall Gold is already held in a subsidiary, could we see a split so that all Pozzolan and Perlite projects are sold and all precious metals move into the subsidiary?
I have no idea how these things work, just playing out different scenarios in my mind.
Given what's happening with silver (up ~18% in the last week) they must be thinking about Bay State.
Reminder,from the half year report (29 May) :
"Drill programmes being considered for Company's gold and silver projects."
Would we want a buy out yet or would it be better for the other projects to be developed a little further so they can get priced into any purchase price?
In fact they've short changed themselves this year, as the pricing was based on the post-permit SP!
As others have noted, PC's 7% holding is a big positive here.
See the bigger picture
- if PC outlines a potential a take over, the board and esp. himself become multi millionaires and can walk off into the sunrise sunset - a take over is looking more likely IMO ...
Yeah and also PC has a good chunk of the shares doesn't he nearly 7% of the company.
Perhaps also it's the right time from an insider perspective, as they will now be having more definitive discussions with potential offtakers etc.
Stupid statement as it's obvious but the next 6-12 months should be company defining in a good way I hope.
It's interesting that they have decided to take them now @ 19.5p a share, the directors must think its the right time to take these shares before a potential take-off in value??
I don't think including that line in the RNS indicates a potential sale tbh, best to not jump to conclusions, just explains what should happen if this scenario occurs to the warrants.
“and all will vest in the event of a change in control of the Company”...... interesting :)
So what does this one mean for us luddites? Is that a further dilution?