Member Info for booboouberbear

Worth looking at how little 10 g/t+ graded mines there are in the world, below is a list of the top 10 underground graded gold mines and then compare what WK heading towards:

https://www.kitco.com/commentaries/2020-11-27/Highest-grade-underground-gold-mines-in-Q1-2020.html

https://www.lse.co.uk/rns/SHG/west-kenya-resource-announcement-felzymzsz8ejkxx.html

You can see how it stands out, and I’m guessing these companies have had sight of the upcoming resource upgrade too with all of 2022’s drilling updates.

Considering how well guarded the news was leading up to the news article leak, you have to imagine games are afoot here on both sides. The SP is being slow marched northwards by design.

Interesting that EZ choose to go public with the ‘cash offers’ news, also strategic.

With the Q3 update this week and the WK resource update imminent, if the offer isn’t up to much they have to walk as the company has a great future with or without them.

MMs have kept a tight leash on this, but it will be interesting if that can possibly be maintained as we approach Deal / No Deal Day.

A Friday afternoon run higher?

Yes, it includes people like me who have nominee accounts with HL.

Good spot, i'm guessing the shareholder voting proxy forms, etc. will be listed in here.

If no offer is forthcoming it's impossible to know what the SP will be this time next year, Macro events will dicate this to a large extent and so will trading conditions on AIM, which is an illiquid mess at the moment.

What we do know is the plan to add ounces will progress regardless, WK in the next few weeks is scheduled to release its updated resource statement which will add hundreds of thousands on new Ounces, as per Zurrin's comments in a previous RNS, if you check back on some of Zurrin's Proactive Investor Media, he states this will be a 3m+ resource by the time we get to the PFS.

This is before Amy real large scale exploration cash is even spent on WK, like a majority Shandong would do, it's almost certainly moving towards a greenbelt virgin Tier 1 resource like Geita was next door at lake Victoria IMO, which I dare say is why like the likes of Shandong are sniffing around.

I thought a takeover always required a 75%> majority shareholder vote? Any unwanted approach won't go through without BoD approval.

Correct, all these shares aren't filled in a vacuum, a huge MM effort to keep prices stagnant for orders to be filled.

Have they just taken a 5% stake here??

If the bids are 13/14p, it wont matter, they won’t be getting accepted. These guys have poured years into this and have money on the table way above 13/14p. It will be business as usual and Eric / Luke will push on with the 5 year strategy. So it must be a serious number way north of this.

This isn't a distressed business in loads of debt, it doesn't need to do anything really.

The two cash offers is interesting, I'd love to see a Canadian pop up here and upset at the apple cart too.

A way to go to see this payout at the traders jump in and out.

19-23p a share is my reasonable assumption of fair value plus a premium, but who really knows if they want entry into Kenya and Tanzania that badly it could be much more.

Enjoy your day.

Cardinal had a 5.1 Moz resource, at a low grade, Shanta has a mine in operations, mine in construction, and a greenbelt high grade mine, it looks promising on the comparison front.

https://www.annualreports.com/Company/cardinal-resources-limited

You can see here. Compare and contrast to SHG.

Yes, they have MCAPs worth circa USD$70B and USD$30, respectively.

It must be WK they are after surely? Wets the pallet.

Agree, thankfully the BoD and the two main players hold a healthy amount here, so is also in their interests too to gain maximum value.

Interest usually begets interest in such matters, would be interesting to see if a large Canadian starts sniffing around this tomorrow now. Till tomorrow...

They are a top tier gold miner worth billions, dare the little guys dare to dream here???

Interesting development today, and I’m hardly surprised.

I posted this article back on 14 August:

https://www.kitco.com/news/2022-08-12/Gold-Fields-CEO-on-the-company-s-6-7-billion-Yamana-Gold-deal-and-the-problem-with-exploration.html

Considering the only way to get your hands on quality ounces in this age is consolidation / buyout, you had to have expected this sooner or later in terms of WK, it is in my mind an early development Geita Gold Mine and it will be interesting what the Chinese think that worth when adding in NLGM and Singida?

If one is sniffing around, there will be multiple and personally see £200m / £250m buyout when you consider a reasonable premium on the worth of this company, circa 19p to 23p is my guess…

Not yet, that comes as we approach Friday and he doesn't back track. He'll have to pick Currency or Debt!