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This is poised to move looking at the RSP!!
Has all the hallmarks of a share about to go pop very soon.
What hallmarks are those? Trading looks pretty thin today, just 17 so far on lse....
That said, the no of shares in tight hands here combined with low Mcap does mean that share availability is low, so any significant investor appetite could swiftly see a substatial rise. If not now, ceretainly when we hear FO results end June, I suspect.
Bid playing catch up. 3:7p+ been on offer for a few days now. Try 3.9p you might get a few sellers.
Only a matter of time before the 3’s are a distant memory.
It’s been coiling for a while and I expect them to let it go soon. The lack of liquidity driven by the fact there are no large sellers. They’ll need to push the bid up higher at some point.
Everything in East Star’s favour both micro and macro at present so I believe May will be a stonking month for the share price.
June will be the big month when the Verkhuba options are finalised. I don't know if I want a JV instead of an outright sale as the sale would provide a load of cash.
No need for an outright sale and I cannot see that happening under any circumstance.
Yes upfront cash but AW won’t lose control of this asset imo.
I think AW has mentioned all possibilities, but from memory they all included retaining some sort of economic interest.
Free carry to production with a snmall reatined stake, royalty, who knows. Who cares? As long as s/holders see the benefit that's fine. All too often in non top tier jurisdictions especially, some sort of shenanigans get pulled to cream off the bunce. I don't see that happening here, but in many ways best to let a BHP or Glencore(or even CAML!) take the reins and go again on other targets.
Genghis15,
Starting to exploit the open pit resource at Verkhuba will not require a significant sum (for a copper mine)... And, the cash flow from the open pit mining will be able to fund any underground mining. There has not been a feasibility study released yet but the IRR is likely to be very high [circa 100%] when it is.
I would be very disappointed with a small retained stake; if the IRR is as high as I expect then retaining close to half of the project would still offer any farm inner an attractive rate of return.
It must not be forgotten that the MRE has 7 million tonnes at 1.82% CuEq. Thats 126 000 tonnes of Copper just from the easily harvested open pit potential. All in a low cost mining friendly environment with existing spare concentrator/tailings and smeltor capacity.
Alex has clearly said that a sale will occur if it's good enough. The latest investor presentation states that the process is underway for partnership or sale.
It wouldn't surprise me that the non binding offer mentioned in the 3 April rns was for a sale.
All options are on the table but even after the wonderful gains we've had over last few weeks I suspect there are more to come in build up to results of JV bidding. Having already put in $500k from their grant surely BHP must be the favourite ?
It’s been looking coiled for days and now it appears it’s about to breakout in style.
Nomlungu
Hope you're right...obvs the bigger the retained stake the better in many ways, just be nice to avoid the discounted raises that are the understandable norm. The great thing about EST is we appear to have enough serious interest and optionality to avoid that and all the uncertainty that goes with it. Looking forward to Q2 !
WOS
i am not a day trader, ....but on the evidence of this share, you clearly have a handle on the trading presures/pricing that I do not...well forecast!
Not sure if BHP are interested in Verkhuba as the open pit and underground sizes may not be big enough. They are really chasing porphyry deposits which are a different beast and much larger.
Agree completely. My money is on Kaz Minerals to secure the deal.
Scrwl
I agree, lazy typing on my part, a med size co wouldn't come to mind at that point. CAML or similar more likely. But you never know.
BHP taking the time to visit EST in country!- https://www.linkedin.com/posts/marley-palin-91a212115_kazakhstan-copper-activity-7192118199704866816-y12v?utm_source=combined_share_message&utm_medium=member_desktop