Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Tml1, slim is telling the truth.
Https://youtu.be/JiBnO0yQiGY?si=dIygboLRMqs0ZiV-
I'm not so sure Hirsch, the market has been shocking so far for M&A. The video above talks about an example of a company with a decent resource and management owned 15% but they had to sell for dirt cheap, $67 per Oz of reserve. Yes, you could argue Jim has the big bucks but if it was that good, he would have built it himself.
We can't keep dragging this along as the government want a mine to be built and licenses will need to be approved at some point. There will be pressure from that end to get a deal done. I just can't see this going for 60p at this moment in time.
Ignore the tsx. It swings up and down due to tiny volume.
I'll take you word for it slim. Appreciate the info. How big was the smile :)
Slim, is all that 100% true?
Surrey, I emailed MC 2 weeks ago, again, got a prompt reply within a day. Little he can say, just reiterating that the board have a large % of shares and that they want the best possible price for all shareholders. He's mentioned ALL shareholders several times now. I keep reading rubbish over on advfn. I personally don't think we'll be screwed over.
Makes you wonder if a toll deal could be back on the cards. Especially if we have low ball offers.
Https://m.youtube.com/watch?v=aULu_sLaUEw&pp=ygUOY2FsaWJyZSBtaW5pbmc%3D
Recent video with Darren hall, CEO of calibre. Looks like they are focusing on getting valentine into production on budget and on time.
Again, sorry to hear about your loss Surrey. Your username and posts are very similar to tester123, any link?
Sounds fun, I'll go more conservative 36-52p.
Https://youtu.be/c3yz8XjF5QM?si=USPbKb2ot7Kphm8-
Good video on the gold mining space from sprott.
My understanding is that proven and probable important for financing the build but my uneducated thought it that it is less important for a company who already have cash. Obviously the more the better but you could argue less important for a company that already has cash or have other means of borrowing.
I'm not sure they are front runners.
Sakura, there could be valid reasons this is taking longer. More due diligence may be required by a company that is looking into a new jurisdiction. For the example of osino, the first company already had a producing mine in the area. We don't know the details of the new company that has outbid them so we don't know if they already have other projects in the same country. We know our BOD are holding out for a decent offer. We just have to wait and have faith that the board are doing their up most to get market value.
Here is a really good example of M&A activity/trumping other bids. Osino resource released a DFS June 2023. All figures in USD. Gold price $1750, 13-year mine life average 162,000oz a year, average grade 1.04g/t, AISC $1,011, initial capex $365m and after-tax NPV 5% $480m with after-tax IRR at 28%. 2.2 years payback and 2.15m oz proven and probable mineral reserve, total measured and indicated 2.94m oz.
In December 2023, Dundee Precious Metals offered $212m, so 44% value to the NPV from the DFS, mix of shares and cash. The share price jumped up roughly 50% on this news to C$1.43.
Then yesterday it announced they received a superior full cash offer from a “foreign-based mining company” for $272m, valued at C$1.90 per share. The share price went up another 25% and is currently sat just below the offer price at C$1.74, which is 56% value of the NPV.
A reminder, if you take our PEA numbers for 150,000oz a year, at $1,700 gold, our after-tax NPV 5% is $418m with 54% IRR. Similar calculations on the offer of osino gives a value of $234m or £185m with 230m shares in issue (includes stock options/warrants) equates to 80p.
This goes to show that the share price can jump up with competing bids.
https://osinoresources.com/news/
Could be reading into too much, but mark has presented here for the past few years and he isn't on the program this year. Maybe we could have a deal signed and sealed before then?
Polo, I would say calibre are less likely to buy us now.
Connect, me too.
Momentum building connect! Are we close to the finish line?
It's far too complicated of a read unless you are a geologist. It was published at the beginning of Jan and MC had some inbound queries as a result of it being published.