The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
2nd July 2018 vox markets article.... "Finance Director Richard Prickett said the longterm plan is either to create value with a joint venture, as the directors did with Brancote, or a straight sale. Prickett said the biggest upside of winning the 2016 Ontario discovery award was that it had put Landore Resources on the radar of large US and Canadian companies “looking for acquisitions in their backyard" Gotta be something going on. Convinced of it. If not, let's raise money and prove up another 400k ounces. If I was an interested buyer I wouldn't want that as I'd have to pay more and potentially not be the only company sniffing. Come on Landore give us an update.
Well here we are now under the price it was pre bam gold find. How is it we have a million ounces and 400 to further prove up and we are here. Just hope the negotiations don't go along the line of a 20 day average price with us getting shares in the purchasing company like they did with Acacia mining. Big boys always shaft the tiddlers.
I would expect that with a million ounces a mid tier would be the suitor. But if we consider the potential we have ,and that has been mentioned on several occasions, Barrick or another big hitter may want first dibs to study that.
I guess the silence could be due to non disclosure agreements and the like. GGP banged on about newmont for months....then newcrest out the blue in for a JV. A potential buyer will not wish for a bidding war.
Exactly. If it was no.... We would have heard almost immediately about drilling program. Presumably mention of further drilling was to show they were willing to continue. Rather than put themselves in a position of a desperate seller. If we are to further drilling then so be it. They'll prove up another 400k and we will be worth more.
Even if that was the case mudeye an update is required. Then we can move on with clarity and potentially prove up the other 400k ounces. The point is that no drilling plans have been put forward. This, I'm inclined to believe, means there must be something going on in the background. If the price or deal offered was totally unacceptable then they would surely update the drilling program. If the deal was complex and needed further discussion then that would cause a delay. The issue fior me at the moment is where the 70 million odd shares have gone. I think once that sorted we will be updated.