Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Any reply Surrey?
Damn it!
I've given up trying to predict the timing of the RNS.
Dummy buy 35.9p.
Dummy sell 34.31p this morning. Could be the perfect storm! News could drop anyday now and those just getting on board might as well hold on until that RNS finally drops.
There has always been a disconnect in the sp between aim and the tsx so I wouldn't read too much into it. Nice rise today, I personally think it's 100% due to the undervalued shares pump on Friday afternoon. It happened last time. Let's just hope this time these buyers hold on for another 1-2 months rather than take a quick 10-20%. I'm holding onto my golden tickets.
Https://ceo.ca/@globenewswire/equinox-gold-consolidates-ownership-of-the-greenstone
Equinox already own 60% and just bought the remaining 40% for nearly $1bn. Yes, it's tier 1 in Canada, will be producing 400,000oz a year for 14 years but effectively spent $1bn for 160,000oz.
Rider, any idea how many people subscribe to his content?
The flurry of buys Friday afternoon is more than likely to the release of that blog post. We saw that with his last posting about us.
Well, the NPV at $2000 is $628m and at $2200 it is $769m so you can calculate any %. Personally, I can't see the project going for above 50% NPV based only on jurisdiction but I could be wrong. We have de-risked the project as much as feasibly possible other than the last 0.4% of the land.
I'd take 25% NPV at $2000 gold.
I would say somewhere around $900m. This is simply looking at the difference between the NPV numbers at $2000 and at $2,200 and the madding the difference to the NPV at $2,200.
Https://m.youtube.com/watch?v=qobUwba0uIQ
Good listen around M&A action in the mining sector. I do wonder whether the sudden rise in POG will put more pressure on the buyer to do a deal quicker before the value of our asset gets more and more profitable.
Even better are the numbers from the PEA in 2021 based on 150,000 Oz per annum including the feeder pits. At $2,200 gold, the NPV is USD$769m and 87% IRR.
Ilka, unfortunately that is not the way to value gold companies.
DDD, don't forget the $60m USD gold prepayment they have agreed.
https://calibremining.com/news/calibre-enters-pre-commissioning-and-commissioning-8155/
They have already received $40m USD and the remaining $20m USD arrives 15th April. Is it just coincidence the timing of the prepayment and financing are both within a few days of each other?
Time will tell!
Recent video. Hard to say but looks like valentine is costing a bit and they are in discussions in the financing of the sprott debt of valentine. Nothing about M&A.
https://youtu.be/Ti1IPb8MaMY?si=jlPORqIhqg3hOlVh
Although as frustrating as it has been with the length of the sales process, holding out has been a blessing with the current POG.
The board is aligned with it's shareholders unlike other recent examples of M&A (particularly Shanta). We should fetch a decent price for this project. Just eagerly waiting for that RNS to drop.
I do wonder if the current spike in gold price will hurry up the process but then if anyone but calibre buy us, it'll take 18 months before they start digging it out the ground.
When calibre acquired marathon they combined their cash on hand and had $148m USD by the end of 2023. They then announced the bought deal of $74m USD. This combined would cover the cost to complete the valentine project.
Then add this year's free cash flow and then the forward payment of gold. If you ignore the forward payment, last year's fcf was $200m. It does make you wonder why they decided to take the money for the forward payment of gold of 27,000 Oz. Why would they need more money upfront with their current cash on hand, recent bought deal and likely fcf.
Https://youtu.be/Bc9vGyjDnOw?si=Z8sSD0W3J4Eb3rNp
Short 7 min video with Ryan king of calibre. Talks about the surplus capacity at la libertad and opportunities ahead. Doesn't particularly say that costs are higher than expected at valentine. Make of it what you will.