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It beginning to feel like the shop on the high street that is constantly in the closing down sale. Or everyone's knows of a house that's been on sale for yonks.

Both analogies usually have a reason. Very relatable to EUA I feel.

It is very hard, even impossible to believe that if a satisfactory offer had been received the deal would not have been done by now.

Even harder to believe that the longer this goes on a deal will be had. Most likely outcome we will mine alone or some sort of Jv. Don't think a full sale for the crazy numbers being mentioned here will happen.

The other big time consumer will be the bidders getting their own geologists looking over the drill results and resource estimates. This will likely involve significant queries and resolution imo.

Fair enough we had covid but deals like this shouldn't take this long. Only scenario I envisage there is a big discrepancy in the price the bod want and the offers.

This could be seen as a positive, a game of poker of you will. But we are at the point when someone will blink.

Easily possible that the bidders walk away. Which is a risk priced into the share price atm.

The DFS is for WK, in all intents and purposes is probably not material for the share price. If it was it would have been released. Fact.

NDA does not cover shareholders. Fact.

If the FSP was the reason for not releasing the DFS it would have been mentioned in the RNS.

Well reasoned approach based on facts. In line with my own thinking.

This is assuming a full sale, may be more lucrative to sell MT and keep a royalty and continue mining WK.

Indeed there there are unique factors in play and blockbuster information not available in public domain is also possible. But I take these away the unexpected bonus rather thank already banking on it.

Next few weeks will be interesting. GLS.

@ prof. Unfortunately non Russian investors will inevitably have the higher discount rate. If it is a domestic buyer then for sure it is less risk and maybe a higher price paid.

The AFC report is the level to go by with maybe an uplift for multiple bidders overpaying. We can uplift for metal prices but in reality long term prices are used rather than spot.

Double the AFC price would be amazing imo.

@ prof. The discount rate that is used in the DFS and NPV calculations will be based on market and industry observations. The market value of other companies will be used to infer this.

@ CAW. That's exactly how it works. Funniest post I have read for a while.

Reading some posts here it would appear that the share price is the made up number. It will be the starting point almost every instance.

Very entertaining watching day dreamers trying to justify the impossible.

Good post by dexter, but its important to note that first bid was at 6% over the closing price for Lionore. Which gives a closing bid of 54% over closing price. So deano was not talking nonsense like some.

I think the share price is a better indicator of value then some clowns with a calculator... you know who you are!!

The person who writes for fools is always sure of a large audience.

Deneway, you are spot on. Each oz is not worth the same. This is one thing some fail to grasp.

Anyway my view is aim low and anything else would be a nice surprise. With the pie in the sky figures of some there will likely be some disappointed punters when the deal is announced.

Abstract statements don't make them true. I've said numerous my guess is as good as the next as there is no way enough information in the public domain.

Tell me the split if measured, inferred and indicated resources for one.

And what does the DFS... please enlighten everyone?

Correct me if I'm wrong, MT has a JORC resource of 2.2moz. The rest is targeted no way this is included in the DFS based on historical data alone.

I'm well aware. Just making the point unless it's in a DFS or already being mined at that level then it doesn't mean much unfortunately. It is a plan at this stage only and requires development and proving up.

Fair point. For understanding will we mine 1moz this year? If not then when will this happen and what will it take to get there?

The Canadian eg is approx 21p eua equivalent. I dont think it's a coincidence that the current sp is not far off this level

Let's believe the lower costs and no capital outlay. Eventhough underground development will cost significant amounts. Also let's assume the mad resource extrapolation that are being made.

5x the Canadian eg gives us £1. Bingo. You need your head tested if you believe the 3,5 10+ numbers.

Thank you. This is genuinely one of the most useful posts that I have seen on here for a while.

Like I have said for the bidders and shareholders, all that really matters is the DFS. Without sight of that we are all just clueless.

You need to step outa the bubble dude.

You are just making up lies, where did I say the company is distressed? Just coz I dont agree with crazy valuation of 30bn.

Each to their own I'm only stating my views and interpretations of the facts. I like to consider every angle and look at the contrarian view.

But it appears there is a bias for a single viewpoint here no room for debate.