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Two quick questions for the more experienced here:
1. Why are we not selling the company - I can't see MC and JM looking to grow a new opportunity from scratch. Maybe DDD answers this in saying less regulations.
2. A hard one to answer but if we have say 9 NDAs - can we expect more than one bidder?
Does this now mean they are too busy at Limon to think about us?
https://www.nxtmine.com/precious-metals/tsx-cxb-calibre-mining-tsxcxb-reports-new-discovery-of-high-grade-gold-at-the-limon-mine-complex/
I reported this to MC and it is now available on the Condor website: https://www.condorgold.com/news-media/media-press/mines-money-interview-dec-22
Nothing new but MC sounding very confident again: https://www.youtube.com/watch?v=ocgTIuLE0rw
Definitely worth remembering as they would have done some due diligence before selling us the SAG mill for shares.
I always thought they were 100% silver play but looking at the home page of their website they are just 50% silver. Also worth noting they have have $117m in cash.
What they don't have which Rio does a full acceptance of Nic country risk.
I see there are two options:
1. Fund the project
2. Sell the project
1. Financing - how long do you think it will take for MC to arrange funding now the FS is out
2. Sale - I think there is now a chance the big boys or the Chinese will look to acquire us...but in my mind it seems our SP is too low. Lets just say someone was to put a bid in at 150% of current SP I cannot see the board would accept it
Interested in your thoughts
I know there is a lot going on but not impressed with further delay in FS: "The Feasibility Study on La India open pit is almost complete, the formal announcement will probably take us into Q3."
Having had the deadline of Q1, then 1H, now Q3. Does not augur well for the build - we seem unable to stick to deadlines.
Like you ISA I have been a long term shareholder and at times I have been frustrated things have not moved faster or have not happened (tolling in particular) but I think now is not the time to be selling.
If the FS is going to be a few days/weeks later than expected then so be it - I am here for the next 3- 5 years. The key is not the publish date of the FS but getting the financing in place, which I am sure MC is working on. It is only when this is in place can we really be looking forward to our first pour.
Good luck all.
It is a real shame we are not producing (toll deal) as gold prices go higher but it always takes two to do a deal and if Calibre don't want to do a toll deal there is not much MC can do, although it is very frustrating.
I do not think the BFS publication this month is going to effect the SP that much, it is the financing that will be the game changer. The trouble is it takes time to get everything in place for the BFS before arranging the financing. ...we are so close. Anyone got any ideas on timing re financing announcement.
We also know we have a massive resource here that is not going anywhere but do wish we could speed up the process to get to the first pour.
Sorry meant to add this presentation on The Ariquemes Project: https://meridianmining.co/wp-content/uploads/MNO-ARQ_Final_Jan2020.pdf