info only4 May 2023 16:40
My take on RNS today is that the Majors wanting to flex their muscles and say we may walk but I think that they have had good results from Pepas and Apta and have been soil sampling in south for over 12 months. I think they have said what they said today because they want better terms, Its all guess work but it will cost them to drill all areas not only in drilling costs but also when they buy us out.
So what they are doing is scare mongering, Yes its a risk in this area but high risk high reward if we get bought out at the right valuation. Also Im sure if they walked other companies would be interested in our piece of the pie. I think the JV partners could just stall for time like now knowing we have only a curtain amount of cash, and even if they did nothing like now they still own 51% of Anza.
Brads left back door open and given them the over spend to carry forward so they only need to spend 700k for this year and they could say they have spent this on legal fees for new company. At the end of the day gold is only going up this year next year and for next 3 to 5 years. The balls in JV partners court and the only thing they are doing is wanting better terms for them ie dril less and spend less and finally pay less for our 25% simple as.
All guess work do your own research but this is my guess. I have no contact with board just guessing.
If majors were unhappy they would not have gone into phase 2, if majors though Anza not a good place they would not have changed all names on sites and give no details where the sites were. Everything to me just seems that the JV partners wanting to screw little omi for everything we have and as said many times before buy us for peanuts. if they did walk they may come back and buy all company cheaper. Its all a game they are playing with us, just like supermarkets trying to screw suppliers on better terms and better margins.
What you say Bhargav we know what Seingred will say, I told you so!
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