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15p 🥳🥳

Is this supposed to be part of the $70m second stage? If that’s the case I can see why elevra weren’t committing pre rat. However if they were fully committed I’m sure they could stump up $6m when they just reported a cash balance of $80m.

I don’t think elevra have to make a move on the funding until FID. Definitely going to be down tomorrow unless we have some news, war and shares entering the market.

I can’t get an assore bid out of my head.

‘The expiry date of the Warrants will be the earlier of 24 months from their issue date or 30 Business Days following the satisfaction of the Vesting Condition unless earlier exercised.’

Does this mean the pension fund has 30 days to exercise from each milestone achieved? Means they’ll have to pay a premium if we’re not at that price in the next 30 days.

If elevra don’t pay up they lose their current stake in the project, if someone buys us they then take the whole project at a ridiculously cheap price. I think it was mentioned elevra and Atlantic were going for joint funding solutions, maybe DFC? They’re aggressively seeking critical minerals projects.

Someone could potentially buy Barari dv if they just want ewoya, special dividend to shareholders and keep some cash to develop cotes.

Yes it was Muscovite or something, not sure about its value or if they’re testing it or what quantities there are.

At 50p their shares would be £100m, they could £50-100m post tax profit each year.

It’s too black and white for me they make a bid shortly, wait any longer and they have to pay more. The economics will improve dramatically when they incorporate the feldspar.

Agreed if it’s assore I’d say it’ll move to within 5% of it, likely good of it going through with the voting rights. Any one else I’d say within 20%.

2 assore non execs on the board / 6

Keiran daly - in addition to his role as Executive: Growth & Strategic Development, Kieran Daly was appointed as Managing Director of Assore International Holdings.

Christelle van der merwe - Christelle is a mining geologist responsible for the mining-related geology and resources of the Assore Subsidiary Companies.

If you want exponential growth why would you wait 5+ years minimum for dividends when you can make 10x that in profits?

If anyone can evaluate what resources we sit on its christelle, in the previous bid it mentioned the bid was based on ewoyaa value alone and no exploration potential of other licenses she knows how valuable the under explored licenses are.

If they let this slip through their fingers it’s the bigger fumble of all time.

All depends what the board want. I reckon the previous bid was around the 40p mark, would the board flat out reject 50p? They’ve had 2 and a half years to get a stronger cash position to take us out. I’d hope they would accept 50p.

I cant see anything other than an assore offer in the next couple of weeks, it just makes so much sense.

@ 50p they’ll get a £110m (roughly)discount to any other bidder.

Put in their lowest offer, create a competitive bidding war they make bags on their investment.

Dont bid and the other bidder returns and they get priced out straight away.

Why wait till dividends when they could build the mine themselves and earn multiples more in less time.

Even a 40-50p bid they will make £0.5b post tax profit over the mines life without including any exploration potential and the cotes license, if they process it that turns to multiple billions. Thats just atlantics 40%. I’m sure elevra could be bought out of their 22.5% quite easily as they’re focused on their current operations.

Can anyone think of any reason why they wouldn’t bid?

I’d like a buyout personally. Not a fan of the risks involved with funding, still don’t trust elevra. Surely they have to pay up what’s owed now or lose their stake?

I like the US bound headline, clickbait for the Chinese and puts pressure on elevra not to drop the ball with funding.

That depends on the bidder, battery oems yes they’ll want it without offtake. Assore might prefer offtake in place? You’re probs right though it’s more appealing without.

It said the approach was from someone not associated with Atlantic, so not elevra or assore.

Why would offtake deter any buyers? They can buy the project with product sold without worry?

me too, must be under 27% now? not much detail in there. they must be a little ****ed, diluted down from just under 30%! how do they stop it happening again? buy us. please.

The most frustrating thing is how much risk we all took holding onto our shares yesterday, no RAT and we’re down 20-30% with a slow drift. We get RAT and we’re still down. Let the market close, suspend trading and lock out any sellers, sell to assore for 50p, dink dank doo.

N2s, exactly. They bid first, get a £100m discount to any other bidder. They set the bar and get outbid their shares go up in value its a win win.

Here's my guess at a takeover price

NPV $1.5b based on $1,587

- £1.12b @ 40% = £448m

Current spod price $2,000

£560m to Atlantic

Feldspar resource

15.41mt @ £59.70($80) = £920m

£920m @ 40% = £368m to Atlantic

£928m to Atlantic.

Current map £140m @18.25 p

Target takeover price (minimum) £928x0.4= £371m

Share price 48.38p

Cost to assore £267.12m (£100m+ discount)

Other value driving factors

- ewoyaa exploration potential (potential to double resource)

- cotes exploration potential

- other licenses.

- downstream processing @ $20,000 per ton

Assore would be stupid not to get a bid in ASAP, this is a very conservative target that doesn't include any upside potential. if we go all the way to production we'd be into triple figures. hold onto your shares ladies and gents.

They finished on 36c, 19p equivalent. Are they just price matching to the let the UK market determine the value of ratification?