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The terms state that they will retain a UK listing - I cannot find where in the offer it says that the y arenot offering UK listed shares?

And Slater,

And if the price of gas rises over the next 3 months or so it makes the offer look even worse.

And I suggest JLP - Jubilee metals - at least 40% upside from here; and major prospects orover the long term unless they are taken out with a lowball offer.

GGG - if memory serves me right JPM bought in at 16P which supports your assessment.

He’s. Not exactly’selling the deal’ to

The market and the I3 presentation on the website is woeful - a couple of months ago he was saying they were looking for acquisitions so why has he acquiesced and accepted an offer which undervalues the co

And is funded by debt? He won’t be losing out personally??

The key here is whether JP Morgan, Premier Miton and Slater vote yes/no.

Interestingly Slater has not sold any yet or made any comment.

What is the value in the combined entity to us is the fundamental issue and whether there is value there going forwards if the purchase goes through. GTE does appear to have been growing its assets and has a share buy back policy in place instead of paying dividends . I can’t find much research on the co tbh - thoughts on here anyone?

Will be interesting to see Mark Slater's take on this (Slater inv hold 9%)

They dont pay a dividend at the moment

They dont pay a dividend at the moment

Missing from the SP analysis is the guidance fo rthe combined co - I was expecting an offer from a company with a larger balance sheet/access to capital - I just don't get this. What are the potential upsides?

The brokers 12 month target is 30p and the BOD were saying there were 100% undervalued in comparison with their peers so this is derisory. There is a detailed presentation on the gran tierra website per the attached link which includes a valuation report.

https://www.grantierra.com/investor-relations/recommended-acquisition-documents/

I think he would not be regularly on Sunday Roast and giving interviews talking about a billion pound company if he was not bothered about the share price. He will be acutely aware of the concerns of the institutional shareholders (eg Slater) when considering placing as I.e only if they add considerable value. Ultimately the value will be realised but patience is required.

Interesting but daily volumes not excessive IMO

Depends also on whether the ‘comedy miners’ accept a fraction for the projected profit from the venture. Once ramp up is completed they should be able to finance these projects from income/finance. Hopefully no more need for dilution unless off is too god to resist.

Https://tinyurl.com/36edcvht

And a new presentation out stating that they are assessing 10 further open pit mining opportunities

Director sales would really bother me, no problem with them buying.

The only dilution was earlier this year for the IRH deal and Slater took a healthy chunk of that to increase his holding to 12% .

Everything turns on actual tonnes produced and financial forecasts for 2025

Agreed