Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
My understanding is that the non-binding offers are to show MC that they are 'serious'. These offers are likely low ball offers. If they become binding offers, these low ball offers will be revised and then likely go higher after further due diligence is done.
Wexford own 52% of mako.
Polo, the sanction do not affect condor. They were against specific individuals not connected to any of the mining companies that are listed.
An example, mako who are Canadian listed, one of their biggest shareholder who gave them the capital for their processing plant is wexford capital who are based in the US.
Https://youtu.be/jvPdxKyEnCc
Emphasis on we won't be sold cheaply.
BenBen, show me a recent acquisition where the company was sold for their current market cap.
BenBen, another way to look at it is this. If you wanted to buy a company like aris or calibre, do you think you could buy them for their current market cap?
BenBen, aris is a similar example to Calibre.
Would appreciate any feedback broomtree. Cheers.
Slim, the master investor webinar is tomorrow at lunchtime. Is anyone on here going to it? I can't make it.
BenBen, the aim here is to get multiple companies interested and create competition. For example, if I really wanted to buy a particular house and I knew other people really wanted to buy that house, why would I sit on my hands?
MC has been in Nicaragua all week and has been very busy. There continues to be significant interest.
Regarding the AGM, there was an error in the date on the RNS which was drafted by lawyers and reviewed by NOMAD. On the website, there was notification dated back in March of the correct date (under company reports and then shareholder notifications) which had the proxy forms to sign and date. The company only noticed the different date on the RNS when it was too late, hence the RNS on Wednesday morning.
Pdp, read today's RNS, it was today at 2pm.
pdp, might be worth contacting Mark to make sure it is face to face. I'm pretty sure slim said it was virtual last year.
My thoughts exactly dan. Surely first majestic must be interested or at least they know about us. They just released their Q1 numbers and have cash and cash equivalent/restricted cash totalling $235m.
https://youtu.be/qu6XLdMFY0E
Another good listen. Focused on valuations, saying should be valued at 3-8% of gold price but doesn't account for all the studies, land, sag mill etc.
Mentions about trying to get value for the exploration upside.
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/999-cse/ase/140007-asante-announces-receipt-of-unsolicited-non-binding-expression-of-interest-that-the-board-has-concluded-is-not-in-the-best-interests-of-the-company-or-its-shareholders.html
They only offer 10% above the current share price. Interesting they announced a non binding offer to the market. Maybe they had to announce it because the offer was from a current shareholder.
Polo, even 0.5 of the lowest NPV above gives circa 73p a share when fully diluted which is more than good enough for me.
Recent and relevant video here from B2 gold. Emphasis on paying for value of the asset, not what the current sp is. Listen around 6:50.
https://m.youtube.com/watch?v=Jzlg5Eq92JM
Don't mind at all CCC. All those numbers look strong. Just patiently waiting for the next RNS.
No video but the presentation is on condor's website. Slide 7 has a breakdown of what the NPV would be for the PEA numbers at $2000 gold (plus other NPV's are different gold prices.
$2000 gold gives and NPV of $628m and 74% IRR.