Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Or maybe they are after us. Who knows. Taken from the news release:
"Given the strong gold price environment, and continued investment across our portfolio of assets, we have executed a US$60 million 12-month gold prepay as part of our cash flow management strategy as we transition to a quality mid-tier gold producer. The prepay represents less than 10% of our expected 2024 gold production with deliveries commencing in May 2024.”
Https://ceo.ca/@globenewswire/calibre-enters-pre-commissioning-and-commissioning
Just announced a gold prepayment for $60m USD for 27,600 Oz of gold. I've a feeling valentine is going to cost more than expected.
Sorry, it was $60m USD, $80m CAD. Not a great return/example. They are waiting on some licences I think. We are more derisked.
Https://ceo.ca/@accesswire/cerrado-gold-signs-option-and-loan-agreements-with
Looks like cerrado needed money to pursue their other assets. They sold an FS study $390m USD for $80m USD.
Https://ceo.ca/@newswire/orford-announces-acquisition-by-alamos-gold-at-a-significant
It was a small acquisition of only $24m but it was a 134% premium to the SP at the time. At these prices, a bigger premium is probably nothing in the grand scheme of things.
Https://makominingcorp.com/news-media/press-releases/index.php?content_id=348
Mako have done well to use their overvalued paper to buy a small junior explorer for $33m, a 40% premium of the current so of goldsource. Goldsource have just the single project in Guyana and just released a PEA with an NPV of $292m at $1850 gold. Just over 0.1 book value, not a massive capex spend either, similar to our capex.
Kitco mining digging deep. First half talking about gold equity valuations and does mention about the recent raise by calibre around 12 mins ish.
https://youtu.be/8QYscWnIiUY?si=_namFrzfm3evq5qb
Ilka, nothing written or expressed on this BB will have any influence on an offer. The company is doing it's best to get market value for the asset.
All we can do is sit and wait and we can look at other recent acquisitions to try and gauge an idea on what that value might be.
Here is a recent example of M&A which I posted about a few weeks ago.
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2616-tsx-venture/osi/156452-yintai-to-acquire-osino-in-an-all-cash-transaction-for-c-368-million.html
Osino had a higher mineral reserve than us and we know the market pays more for reserves. Even if we matched that offer, our sp would be circa 80p minus costs/options that would be converted.
Best to try and be realistic. Show me any other recent M&As that show higher prices/offers based on their project scale.
I still think the Chinese are front runners. You never know, maybe there might be something in relation to the timing of calibre's recent fundraise. If news is announced in the next few weeks of a deal with the Chinese, other interested parties will then know the price. Calibre would then have a war chest of money if they were interested in making an counter offer.
Https://stockhouse.com/companies/bullboard/t.cxb/calibre-mining-corp?postid=35942574
A post about the likely use of calibre's recent fundraise being on what they said it was for, the valentine project. Gives examples of other Canadian builds recently and how they've come in well over budget due to inflation.
Ilka, you are in cuckoo land.
Beat you to it lol.
Simms, calibre raised $100m CAD, so technically $73m USD.
Baldmark, its on the SEDI filings for calibre. Can't post a different link but you can go on the cxb forum and scroll to the 14th march and click on the link there to confirm.
https://ceo.ca/cxb
I'm really torn between the 2.
Https://ceo.ca/@globenewswire/calibre-mining-announces-c100-million-bought-deal
Interesting. It says it is to develop existing projects but could it be used for M&A.
Considering what Jim said to slim, I'm not sure if calibre are the front runners. One board member of calibre bought on the open market last week (14th March). Not entirely sure but could that be classed as insider knowledge if a deal were to drop in the next few weeks?
Their market cap just hit £100m. They produced just under 35,000 Oz last year, have a resource of 250k M&I and a land package a third the size of ours. They have been in production since summer 2021 and are nearly debt free.
Sorry Hirsch, no one on here knows what price Jim wants.
I've seen a picture of slim stood with Jim at the master Investor conference which was yesterday.