Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I'm not sure if they will be interested but at least they know about us. Similar size ish to zhaojin mining and have projects in Mexico (although some ongoing debates there, which to be honest, nic seems a more mining friendly jurisdiction).
First majestic bought the jerritt canyon mine for $470m in 2021 which was an already producing mine in nevada. They bought it to 'turn it around' but are still having issues. The mine only produced circa 64,000oz last year due to severe weather conditions in nevada. As a result, their AISC was $2745!
Sometimes goes to show that not all producing mines are profitable and although they already have the infrastructure in place, sometimes starting from scratch might be more beneficial.
H50 your link went to another of his tweets. Here is another if you've not seen it https://twitter.com/PaulHarrisGold/status/1631770047407325186?t=XfM5UaJqrCuKYe1xKlIfUg&s=19
They look like they fit the bill. Market cap of £3bn. On a separate note, mako just gone up 50% on news of refinancing some debt. They are looking to up list to the tsx and do a share consolidation to appeal to different funds. Calibre heading back up as well. Looks positive for the producers in nic.
Ah, so you are saying these filings are from older filings that are just now being processed?
https://ceo.ca/insiders/john-stalker
Ian stalker has just bought $50k at 22p ($0.365 I think cad not usd). MC has bought some more too, around 17p ish average.
Is anyone going to it?
The interesting bit is that sabina's FS had a post tax NPV 5% at $1.1bn CAD at $1600/oz. B2 bought them for $1.1bn CAD! Yes, you can argue the gold price is higher and they are in Canada and have a large resource but buying at that price is very interesting!
Mako have a mcap of £77m. They only produced 36,000oz last year with average AISC around $1200usd. They started producing without an FS and minimal reserves. They have a bit of debt left to pay. Simple calculations would say we could be valued at least twice of mako, technically 2.5 times. Our AISC will be lower and we have a much bigger reserve and resource. Mako are a reasonable comparison for once in production as they are single jurisdiction and in nic. They managed to go into production with no prior experience. I don't think debt is that much of an issue in valuing companies. Look at equinox mcap and their debt.
I did a screenshot on the 21st December before the shares were updated. Mark had the exact number of shares then as he does now based on the information in the website. Oracle have added 1 million shares and kept their % similar at 3.8%.
I don't think Mark bought any.
Could these options be a reason we are going for an assest sale rather than selling the company? I.e the get the money, keep a % to wait for the warrants to become available and then the warrant holder converting the warrant? Does Jim's new warrants at 15p have an exercise date like the others?
No worries Seingred. Yeah, most other money is in funds and more boring stuff. Never been interested in crypto stuff. In some gold and silver producers but main interest is here.
Roughly what time in the podcast does he mention CNR? Tried skipping through bits as he covers loads and short on time to listen to it all.
Unfortunately not Seingred. Average is way north of that. I read but don't post over on the advfn boards, prefer it over here.
Seingred, I doubt the BOD will sell if the price isn't right. I would hazard a guess at either a merger or maybe relook at financing if sentiment is stronger with the strong gold price/time to let the news of sanctions blow over.
The issue with a merger is that we would need the sp to rise prior to merging and other than the gold price/market sentiment, there won't be any company specific news to really drive the sp prior to a merger.
https://youtu.be/A8nP_tHlMe4
Update from calibre. They discuss the sanctions again around 17-18 minutes and how it has no impact on their operations.
No update. Mark keeping cards close to his chest atm.
https://www.calibremining.com/news/calibre-delivers-record-full-year-2022-gold-produc-4890/
Calibre up nearly 10% and gold looking strong. Calibre hit 222k oz last year and 2023 guidance 250-275k oz. Mako slowly climbing up from the lows off the sanction news.
Taken from calibre's MD&A Q3 2022:
On June 28, 2022, Rio Tinto Exploration (“RTX”) terminated the Strategic Alliance Agreement dated as of February
23, 2020 between RTX and Calibre. RTX also terminated the Option Agreement dated as of February 23, 2020
between RTX and Calibre, CXB Nicaragua S.A., and Calibre Mining Nicaragua S.A.
RTX has an internal prioritisation process which weighs both technical results and operational risk to ensure their
exploration funds are directed to the best portfolio opportunities. Following the Nicaraguan exploration program
conducted from 2020-2022, the Nicaragua portfolio of projects associated with Calibre did not achieve sufficient
priority within RTX’s global copper portfolio to support their continuation. Consequently, the decision was made by
RTX to exit the projects and commercial agreements with the Company. RTX will work closely to transition all data
and information to Calibre to allow the Company to continue the work in the area as the sole operator.
In all fairness, we were too small for the likes of Rio anyway. Guess they could have bought us and calibre out if they did have a presence in Nic.