Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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We all will be.
And my SIPP will be all the better for it. Looking forward to the other side of this - I am very shocked at Hannam's lack of ability to bring anything to the table through this process I have to say.
One would think that the King of Mining would have had a bit more clout to get this steal of a project wrapped up.
The only blocker I believe is ?s over political stability of the region, which is overly priced into SP.
Also I do note Jim's been hands.off other than for financing, which does continue to be a surprise to me
WTF knows either way, personally the longer it drags the worse it looks, but needless to say l, I’d be happy to be pleasantly surprised as soon as possible!
I wonder if Condor will wait to announce final deal or if they can do an interim announcement to flush out any last minute takeover opportunities and raise share price closer to value. Anyway lets hope Condor conclude very soon. We might be thanking them if the price is higher than we hoped but my concern is time elapsing as we would be close to first pour if we could have worked up a mine build. hopefully we are in the last 6 weeks and this is done by end of March.
Don’t read anything one way or another by a responses by MC, he won’t be able to tell you what you do or what you don’t want to hear! Like the rest of us you can stick or twist based on your own conclusions.
How recent was the e mail? Did it re-assure you or worry you?
And I'm massively pro CNR!!!
I've had some dialogue over mail, but the market comms I admit are really poor.
Hang in there!
Gg, process started Nov 2022. Even I didn’t expect to still be here waiting for news in 2024. I have let a few more go. Best case scenario here is 100% from here imv but not liking the smell of it personally. Putting more in crypto miners on dips. Better odds imv but of course risky but more possible upside imv.
Good luck guys, shareholders do deserve some kind of resolution and at least breakeven.
5th December 23 since a sales update when we was apparently on the last home straight
Mc s should be sacked for being a week leader on 4K a week with no regard for anyone The disciples he emails have been told it’s happening and to keep quiet
The Gurkhas are a like long job onion was there 2 minutes they departed as he was week
Can the board call time on the process? They have painted us into a corner by saying we are not miners so offers of finance to build a mine are hardly going to come flying in. Over a year has passed by now and it appears that nothing is happening and no suitable bids have come in, bit of a disaster really.
We must assume we are still in a 2 horse race and while i hoped February should have been enough time to finalise this who knows if Bids are not edging up and explains time taken to seal the deal. There is still a week left of February but the board must ultimately call time as we are well into month 13 of the sales process and that is a considerable time to deal with any outstanding matters.
Https://munknee.com/how-to-value-a-junior-miners-gold-in-the-ground/
Obviously other factors apply and $150 wouldn’t apply in Nicaragua.
Cf, I think myself and ddd ran through this one quite a long time ago working out valuations of in ground resource. Proven and probable are valued way higher than inferred because of the degree of certainty . Depending on jurisdiction but from memory up to $150 p oz compared with around 25 /30 -50 . For I and I .
Yes the bid up is interesting and if there are two serious parties we would hope the competition pays off . I stil don’t see above £100 m from that example personally but just my opinion. Let’s see what we finally get this year hopefully.
Good luck
Can’t understand why we are down with all the news flow and videos and twitter comments and mark shouting from the roof tops
My understanding is that proven and probable important for financing the build but my uneducated thought it that it is less important for a company who already have cash. Obviously the more the better but you could argue less important for a company that already has cash or have other means of borrowing.
Cf, another good comparison example . All your points valid. 2.15 proven and probable against 600 k. £170 m for 3x the proven total still makes me doubt more than £100 m for condor and possibly less.proven and probable is the main value producers, that finance is based around. they don’t appear to have been openly up for sale for a year and a half before an offer but we wait and hope. Chinese more active in Africa currently.
Slim shady - enough of that thank you…. From a Paddy ha ha
Could be the paddy’s it’s the way they tell em
Minors are dropping, maybe wait till its cheap to buy imho ?
I'm not sure they are front runners.
There again Calibre are just down the road
Give us an update ffs!
Sakura, there could be valid reasons this is taking longer. More due diligence may be required by a company that is looking into a new jurisdiction. For the example of osino, the first company already had a producing mine in the area. We don't know the details of the new company that has outbid them so we don't know if they already have other projects in the same country. We know our BOD are holding out for a decent offer. We just have to wait and have faith that the board are doing their up most to get market value.
Condor - that emphasises the point that things here are improbably slow
Did the guy with dyslexia really know something
Onions gone to ground on 4500 pound a week plus
Nero s not being drip feed waffle
Jim continues to be depressed
Hanna still carries the embarrassment ?? How long for and what’s been the cost
Anyone know what the financial settlement was for the guy in the core supply room was please
Here is a really good example of M&A activity/trumping other bids. Osino resource released a DFS June 2023. All figures in USD. Gold price $1750, 13-year mine life average 162,000oz a year, average grade 1.04g/t, AISC $1,011, initial capex $365m and after-tax NPV 5% $480m with after-tax IRR at 28%. 2.2 years payback and 2.15m oz proven and probable mineral reserve, total measured and indicated 2.94m oz.
In December 2023, Dundee Precious Metals offered $212m, so 44% value to the NPV from the DFS, mix of shares and cash. The share price jumped up roughly 50% on this news to C$1.43.
Then yesterday it announced they received a superior full cash offer from a “foreign-based mining company” for $272m, valued at C$1.90 per share. The share price went up another 25% and is currently sat just below the offer price at C$1.74, which is 56% value of the NPV.
A reminder, if you take our PEA numbers for 150,000oz a year, at $1,700 gold, our after-tax NPV 5% is $418m with 54% IRR. Similar calculations on the offer of osino gives a value of $234m or £185m with 230m shares in issue (includes stock options/warrants) equates to 80p.
This goes to show that the share price can jump up with competing bids.
https://osinoresources.com/news/