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Really good they have a couple of irons in the fire plus whatever else Alex musters up over the coming weeks. Happy just to sit the nexr few weeks out no sweats, who knows maybe early, bite yur hand off deal.
GLA
It was a good presentation and having BHP on board is superb. They don't give $500k away without being dam sure what they'll get back and highly likely they will be JV partner.
IMO this has got to be one of the most exciting share on AIM for many reasons:-
Judge for yourselves
https://www.eaststarplc.com/media
A wonderful thing...
Bad day for EST - expecting a drop to 3 p by the end of this week.
Good to hear confirmation that partnering process will conclude b4 end Q2. Not long to go
' erring'
Not airing
Couldn't help myself
Very positive call and Alex once again sets himself apart, very professional and knowledgeable whilst also airing on the side of caution.
Future looks bright with EST.
The JV and BHP xplore discussions were very interesting
Great call. Alex expects Verkhuba deal to be finalised by June. Stated since JORC announced one new NDA signed with others currently being discussed before letting them in the data room. Sounds as tho they've got a prefered bidder and potentially have fleshed out the broader terms already given new players involved but still expects deal done within 2 months.
I meant from JAllis. He's obviously a world class expert.
Looking forward to presentation. We're up 160% now since JV announcement which considering BHP's $500k grant must make them front runners ?
Today at 11
I would argue TSX/CSE undervalued so if you want a true barometer of what's possible I'd look to ASX over last few years to see what's possible in a good market. Some good success stories actually being valued a lot closer to what they're worth. Otherwise just stick to lse-listed co's for a practical comparison.
As I said, not comparable. My point was to not just look at London for comparisons (should perhaps have said this). Everything on the LSE is currently being valued at diddly squat, regardless of quality. PXC should be much higher too.
Unfortunately not comparable at all, Vicuna district was already a hot district for porphyr before filo's deep discovery. Maybe revisit comparison if (when) BHP partnership has developed.
They are not really comparable but how about the two copper explorers below?
https://finance.yahoo.com/quote/FIL.TO
https://finance.yahoo.com/quote/NGEX.TO
Yes those market caps are real.
OK but I'm on tenterhooks for that list of better valued copper explorers.
Looking forward to the presentation and session and questions tomorrow. Hopefully a bit more of an update on approach and interest.
We dont know what form of deal will be struck, but the RNS refers to potential JV, FO, or sale, rather than off take.
Valuing a pre-revenue miner isn't an exact science. Sometimes, the easiest way is to compare apples to AIM-oranges. One of the closest companies and deposits I could find was Phoenix Copper (PXC) & the Empire mine.
Mining-friendly jurisdiction like Kazak, similar sized polymetalic deposit, both open-pit & underground but PXC are a couple years ahead. Empire mine has an M&I + Inferred resource ~33mt @ 0.75% CuEq (majority M&I, of which Cu is 0.39%) for around 250kt of contained copper equiv. Not as much confidence in our deposit due to wider hole distribution but 20.3mt @1.57% CuEq inferred gives us around 320kt of contained copper equiv. They've been on a small run recently but are currently valued at £26m. Considering we have a likely off-take (in some form) in the offing, I think we're only 12months behind them (if that). Given our profile and their valuation, I definitely think £20m m/c isn't impossible within the next 3-6months given expected newsflow (Farmout talks concluding, BHP poprphyr decision, VMS drilling campaign, sedimentary-hosted copper exploration activity etc.).
Copper price rising and the BHP Anglo approach has started things cooking now in the copper space now
Lol, Iptuf93, my thoughts too.
yes, there will be warrants to wash thru at sone point ; but if this story plays out as presented, there should be plenty of value on offer here to absorb that and more.
Whilst it always pays to be cautious about management assertions, esp about FO interest, the global backdrop to this makes those assertions very credible in this case, imv.
We will have to wait and see, but the price seems to be firming despite this dilution talk, and EST has not really hit the radar of many smallcap investors yet, as far as I can see.
Yep, will happen later this year for sure. Never surprises me tho when "new" posters comment placing after they've missed a 100%+ move. Probably just a coincidence...
We know it's coming when this stays above 4.5p and beyond for warrants to get forward sold. Blessing in disguise to be in this range as the farm out news will give the rerating and liquidity to wash through the new shares. Also obviates a placing later this year.
Sorry... Until 9am tomorrow.