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I don't think the spread is an issue given the recent interest. Yesterday was one of our lowest volume days of recent and the live spread was around 4%. I agree RE:timelines on a deal. Things can be extended so always a possibility. Fundamentally though, we are no way near true value based upon a JORC inferred resource of 20.3mt @ 1.57% copper. Will post something later on a company that is a couple years ahead of us but has a similar resource.
Most mid/large producers do not want the hassle of dealing with non-core licenses for a host of reasons. Risks of litigation due to issues unrelated to the asset of interest, added exploration budgeting towards non-core interests (prev. signed binding agreements), non-core metals (bring up ESG issues) etc.. They don't have time deal with that cr*p. I think it will be a clean transaction solely for Verkhuba.
Given Alex has completely smashed it out the park and delivered a JORC resource on the Open Pit as well as the Underground, lets revisit valuations. Again, this is an ultra-conservative figure but used globally in valuing in-ground inferred resources.
20.3mt @ 1.57% CuEq equates to 318,000t of equivalent Copper - roughly 700m lbs of Copper. At 4c/lb, thats $28m USD which at todays exchange rate is £22.65m. At 218m shares, that's a valuation of 10.39p.
Given we have plenty of capacity and infrastructure nearby as well as being in advanced farm out/take off agreement/sale talks, I'd add a considerable premium to that figure...
I'm sorry Brighty1, this nonchalant "don't shoot the messenger" is complete garbage. This is why these boards become useless as you get ridiculous price ramping through the most braindead "technical analysis". And now you have Gordon aka Earl aka BenNaucer trying to get the link to use it to ramp. If you post a link, vet it beforehand and own it.
Gordonbennett, Earl of Aim, BenNaucer etc. are all the same pump & dump account. Been working around all the stocks recetnyl that have been exciting with operational news like EST etc. They're just oxygen-thieves.
Tried to get into the telegram EST group under the Ben Naceur account. Needs sectioning - truly is the kiss of death talking about "what if Tesla put one in every car". Hopefully he/she/it will crawl back into the 2x50k tradehole they came from.
Truthfully, I think it depends on the deal.
If it is a shyster, typical AIM JV deal (spend ~£5m over 4 years etc. for 70%) then I don't think it'll respond well. However I think that is very unlikely as this is a relatively advanced project (resource pending) and full of infrastructure and, importantly, spare processing capacity. I suspect we're gunna see a significant sum of money upfront (~£3m) plus a decent royatly when in production. That'll pretty much fund exploration for the next 18-24months so expect a huge response from the market if that deal was announced. I think Alex is on the brink of something big....