Member Info for ElectricLion

Good find. Not hugely suprising. RT is not really a precious metals company - sounds like they were wanting copper.

Makes you wonder who the 7 NDAs are with. One has gotta be First Majestic, right? Maybe Calibre? Beyond that, who knows.

Take a chunk off their capex and add it onto the aquisition cost, puts us in the right ballpark I'd say. Plus, we already have an FS - reduces risk - our AISC went up a bit with the FS IIRC...

I'll take a stab in the dark, but I really have no idea.
- I believe MC has expressed a preference for a full cash takeover in the past, rather than shares, though if the best offer is in shares, then that may be what we'll get.
- I don't think much, if any cash will be retained - MC will probably be eying retirement, or at least a good long rest. JM has plenty of other things going on as it is. The shell may continue to exist - it probably has some value to someone in it's own right, without any cash at all, though I really have no idea what would happen in practice.
- As for how the monies may be distributed, I would personally prefer the most tax efficient option, whichever that may be, since I have quite a few outside of ISAs/SIPPs. I guess that would be purchase of own shares, as then that would fall under CGT rather than dividends taxes? So that's what I'll vote for.

Calibre have never really been quite big enough to buy us, not comfortably anyway. Probably too many eggs in one 'frontier' jurisdiction for them anyway. That said, they probably wouldn't need to spend $105M on an entire brand-new plant - they'd just use La India as another feeder pit in their hub and spoke model, at least initially.

Still, we are to understand that there's 7 NDAs been signed, so there's more interest that just Calibre in any case.

Despite how much we may think it may make sense, I think we have to face facts - to the best of our knowledge, Calibre has shown zero interest in us in any way whatsoever. Given that Condor is now up for sale, a toll deal suddenly appearing out of nowhere seems highly unlikely.

Until a deal is signed and Condor is officially sold, anything can happen - if circumstances change maybe we'll wake up to a financing RNS, who knows - but the stated strategy is to sell, and so that is what we should expect to happen.

Time for a new heading!

It seems to me that despite the (highly understandable) misgivings, that full TK finance close is close, maybe very close.

Anyone like to take a stab at what the SP may be in the weeks and months following that RNS?

It's been a brutal year for most investors in most sectors. If you were in energy or maybe defense, you'd have done OK, most other things, not so much.

https://www.reuters.com/markets/global-markets-wrapup-1-pix-2022-12-22/

A purchaser will use their own internal gold price projections, rather than the current spot price. The mine won't be producing for at least another 18 months after all.

That said, heading in the right direction near-term can't hurt...
https://www.mining.com/web/gold-price-will-reflect-inflation/

FWIW, I find the most interesting thing about Beaty leaving was that I don't believe it was RNS'd (unless I missed it). He's no longer on the Condor website as a significant holder, so presumably he has indeed gone, though the whole situation was rather opaque to say the least. It's hardly suprising there has been some speculation (in both/all directions) regarding the reason for his departure.

Can't see him stepping down voluntarily, can you? To force him out would require a majority shareholder vote at an AGM or EGM - you can look up the details if you're interested in advocating for such a thing. However it would not be in shareholders interests for him to leave, if there's only a few bits of paperwork left to sign. The upheaval would be substantial, more time would be lost, more money would be spent, more equity would be raised to pay for it all. Be careful what you wish for.

If you have no faith in the CEO, the best option as a small investor is to simply sell and find somewhere else to invest, rather than expending your energies on trying to force a change.

I am well aware of the history here and the consequent distrust, however whether it is December or January, or even Q1 doesn't bother me too much, provided, and this is critical, it does in fact look like it will happen at some stage.

It is a massive and complex deal, many parties, lawyers, financiers, etc, etc, etc. I know from my own small experiences of dealing with such people - they won't be rushed! I agree that the timetable will not be entirely, or perhaps even predominantly, in HAA's control.

However, so long as there is no indication of the deal actually failing, it is such a significant milestone for the company, with hopefully a corresponding impact on the SP when it is finally official, that I am content to wait a little longer if needs be.

Depends how many I could buy on the open market. Would be hard to buy more than a mil or two I would think.

And as you say, even if insiders cannot buy on the market, it may be possible to exercise warrants or options. I'm also unsure on the rules here.

I concur that 40p seems steep at the present time, but that 22p may be appealing. As usual though there are too many unknowns to be very sure of anything!

I do tend to find that ADVFN boards are, shall we say, lower quality than LSE ones (unless it's just the ones I frequent! lol). Why that is I cannot say, and of course there are exceptions in both directions, but generally, I don't bother with ADVFN boards any more. There's rarely anything worthwhile on them that can't be found here.

I can't speak for Simms, but to your point 1 - considering this is written into the Ts & Cs of the offer itself, that will have been anticipated by the company when they were considering how large an offer they needed to make in the first place.

Point 2 is very valid, as is point 3, however these may be balanced out by some 'chancers' (in the nicest possible way! :-)) like Awax who would ideally like to trade their entire holding effectively for shares at 15p.

As to whether the funding will indeed be fully taken up (within the known limitations) I can't say, but I would think that again the company has structured things such that they are reasonably confident of getting enough into the bank account either way.

I am as a matter of fact. Is this a joke I'm not getting? lol?

Care to explain how you know that?

Anything's possible, but I think your true colours are showing...

...and that's why we are sitting at a £12m MCap and not £381m. Not that GGP's performance has been anything to get excited about for a while (ex-holder from 1.75p to 8.something FWIW), but I digress.

Well, some here seem to be spoiling for an argument, but all I'll say is that I'm content with my position-sizing (one of the best ways to manage risk IMHO) and even my average, which is only a touch higher than here, so I'm happy to let it play out. These won't be the last results.

I find the derampers often cancel out the rampers... to say nothing of the conspiracy theorists... ahem.

Anyone can cherry-pick worst or best numbers. Case in point: 6.48g/t Au and 2.27% Cu are far from "absolute rubbish". It's a work-in-progress is all. Won't set the SP alight for sure, but take the negativity easy, lest it weaken your credibility.

Oh, and with a MCap of £12m, this doesn't have to be GGP MKII to see very good returns.

Ah, hadn't seen the RNS. 8.41am, funny old time to put out an RNS, but whatever. Anyone talking about March isn't really paying attention (or has their own agenda - decide for yourselves). For the results themselves, yes, not awe-inspiring, although this is exploration drilling - could easily have hit nothing but dirt. There is something there though, gold and copper, which is a good sign. Early days yet.