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Very interesting interview with Ryan King from Calibre: https://stockhouse.com/opinion/interviews/2020/11/17/calibre-mining-continues-to-deliver-value-and-invest-for-future
I agree completely EL. Until we get to 70/80p I cannot see a offer coming in at a price that would interest MC and JM....they know what we have and it's value and I think any bid has to be north of £1.25
Once we start generating a revenue stream we can bring in someone to build and run the mine.
T123 sadly all of what you says makes sense and without doubt if I was the Calibre board this is what I would be doing, even without all the land as they could take their time to negotiate and may not need it anyway if they were never to build a plant at La India. I am not sure the Nic Govt would approve a merger if no plant was going to be built. However, as you say if we do a toll deal with Mako and re rate Calibre will probably have missed the boat.
I know for many year MC said we were an explorer and not a mining company - our upside over the next 5 years are massive potentially clearing 200m a year... why sell out now, just as the sweet shop door is opening. I am still hoping we will achieve the following before the end of the year:
1. Plant deal done with deposit made
2. Tailings reports finished
3. Toll deal done
4. Start land clearing
As has been previously been said I don't think Calibre can be seen to be bidding say £1.20 - £1.40 (high enough to potentially interest our large share holders as this is 200-250% above current price. Anything lower I think will get turned down.
GLA
You have to believe Odey will vote to delist which means we will delist :-(
I believe we have to stick with it as a private company and see where we are by the end of H1 21.
Good luck all.
Please let me know if I have got this wrong as these are "back of a fag packet" numbers.
We borrow $50m for the plant and equity dilution to say 200 million total shares in issuance (a number being mentioned)
We produce 120,000 oz of gold in year 1 of production selling at $1900 / oz
Our AISC is say $650
Profit $1,250 per oz...total $150million per year
Repay all $50m in year 1 (I know we won't)
Approx $80 mill after taxes = £60m. This could result in 30p dividend per share
Year 2 onwards no loan to repay so approx $120m after taxes = £90m. This could result 45p dividend and the same for years, 3,4,5,6 and 7 onwards
And remember MC believes we have a 5m oz resource.
I total accept not everything will be paid out in dividends but I believe it demonstrates how cheap we are.....
See you all on the otherside.
I am not going anywhere...but it could be a few months.
Good luck everyone
only 1 bit of news I want to be announced.....100% land ownership. I believe this will be the starting gun for everything else:
1. Toll minining agreement
2. Agreement on mill purchase
3. Financing package
4. Recommence drilling
5. Start land clearing
I know I am asking for a lot ;-) but I think it is all coming
It would be great news.
Having been here 10 years a couple more months wait is not an issue. I think it will then start a barrage of RNS... I am still thinking (posted 22nd Aug) these could be the RNS schedule
100% land - by late Sept/ early Oct
Toll Agreement late Oct/early Nov
Plant deposit announcement late Oct/early Nov
Commence ground clearing - Dec