Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Nope, deffo over $800 k. When I predicted a raise q1/2 next year the admin expenses were used to disagree. It’s easy to see the actual cash burn each quarter if you look for it! Omi always was going to run out of cash mid next year.
How are they going to raise cash?? The board has no credibility in Canada which is why they raise in aim. The only way that this will see the forecasts of 50 p etc is through what is a likely consolidation. I did try to be the voice of caution here among the predominantly outlandish predictions. Good luck guys. glad I got out ahead and happier trading in crypto than these dodgy tiddler explorers. Only way is to trade when sensible. They are mostly run for benefit of bod’s. Crypto in for a good couple of years imv coming up . Dyor obvs or avoid of course. Still holding a few here and will think about adding if anza news improves before next cash raise.
Good luck all
C f. Martin is a bottom feeder. He got el lemon mine from rrr for virtually nothing when they failed. He also is involved in various shady deals with Ortega so personally not see him as a white night. This is the end game and we will likely see that shareholders have the weakest hand. I think we already do.
We saw when Cnr couldn’t comply with 18 months from permits to start construction that the nica gvnt can very much bend the rules , Cnr still refers to the project as almost construction ready! That worked out in our favour, However they can just as easily bend the rules , or indeed uphold the rules to steer this project where they want it to go and where they see it as most advantageous to themselves. Cnr holders mean nothing, both the eu and uk have sanctions on nica.Geo politics are gradually worsening, sorry Simms. China is the most likely destination for sure.
The market really is not liking this 1 year no news . I hope I am being pessimistic but the smell isn’t great to me. I expected a longer timeframe than most here but it looks like I was ramping rather than de ramping. I dodged a bullet swapping my Omi in here when they were about 8 p but really wasn’t expecting to o be heading to 15 p here.
Obviously buying now if there is a deal would be a good buy but very risky. The risk at 16 p is no deal. A sale has to return 100% from here. It’s a bargain but nobody’s buying. Could be a mega deth song lol. I might just be a chancer and add some soon. Shot to nothing as it were.
Good luck
Simms, there is no chance of completion this year imv. Calibre deal with b2 took over 3 months from announcing. And b 2 were holders in calibre at the time. The next likely event imv will be further funding , hopefully Mellon converting more 15 p warrants. The question now ddd is will it complete by next April.
After almost a year we have 3 site visits and no binding offer. Not overly promising if you are on the sidelines. I imagine a Chinese offer being the most likely and most desired by Ortega . What if there is only 1 offer. What actually is the alternative ?
E l, I think the fact that there would have to be a mine build is one reason that makes calibre unlikely imv. Calibre have a large scale exploration budget for their own burgers that is very fruitful. I think their model is to buy and develop existing mines. I am not convinced that toll deal was ever close. Should be noted that b2 had a holding in calibre long before the deal was signed off so they were negotiating for quite some time. Of course it is not impossible that something could develop but unlikely imv.
https://www.newsfilecorp.com/release/24104/B2Gold-Acquires-an-Additional-23450000-Common-Shares-of-Calibre-Mining-Corp.
Agree that China is the most likely suitor for many reasons and would expect nica gvnt to be most receptive to that scenario, and they still have a say in proceedings.
Simms, where is your source material for your claim that calibre were constantly making approaches. I have seen no such mention. Cnr were talking with b2 and calibre for a toll deal which never transpired with either. Calibre cash pile has varied between $45-90 m depending on any deals and their v large exploration budget that is the equivalent of Cnr m cap. They could be interested but are committed to exploration for new gold. As I have said before, having bought 2 mines for $100 m can’t see some of the hoped for prices here being paid and $110 m for yet another mine build. Nica want another mine!
I also see no real proof that Mellon is holding proceedings up , there has been no binding offer that seems to be what is holding things up.
I suspect that the Nicaraguan gvnt would prefer a Chinese buyer. Now they for sure could make sure that this is the only possible deal if they wish. Geo politicals are with China and gvnt is becoming more prone to interference and confiscation. Not suggesting confiscation but quite easy to steer it where they want it which could make problems for western companies. My opinion only of course.
Tbh, I was struggling to see beyond next year as it was with a raise needed within the next year. How on earth this new vanity project will be funded is a bit of a mystery to me. Let’s hope we don’t see convertible now funding and consolidation. What is the nominal issue price btw.
Maybe Brad has a cunning plan up his sleeve but can’t help seeing turnips.
Roxi, the longer you wait the more cash used the more dilution . He will for sure take the best offer on the table unless it is absolutely paltry. As you say. He doesn’t need the money which cuts both ways. He is not banking on a big profit to pay off his mortgage or buy a house or retire .
Too much faith invested in the expert that forecasted 150 k oz this year imv. Seems like they have already waited nearly a year for the right offer to come along, how much time do you think we can fund. Remember mellons interest rate was 17% pa and that was nearly a year ago must have increased now for new loans.
Nice article e l.
Keeping it real
Our main finding is that it is not just outcomes that matter but also expectations. Other things being equal, overestimating outcomes and underestimating them are both associated with lower wellbeing than getting expectations about right. Realists do best.
Wonder who the covid deniers are 😜.
Whats to stop13 Dec 2022 13:20
DDD, indeed. MC has said that Hannam are conducting the sales process in two stages or "rounds", so I expect we will be notified via RNS at some point in Q1 2023 that round 1 of the process has concluded and round 2 has started. We may also be told that there were x number of participants in round 1, and possibly a minimum offer price (at a guess) to put a floor under the process.
nero120
So, what’s the cash burn? I make that just under £2.5 m but 734 from sales I guess should be added ? Which would roughly $3.2 m by my maths . Does anyone concur which would leave about a years runway, up to next year end.
Any thoughts on that?
Nero, I suggest you re read the last 5 years of your civil posting maybe with mrs Nero. I have stated my average and given you a ball park figure for how many shares I hold. I don’t really see why on more than one occasion you have asked this question, as if the size of your holding equals the right and validity of posting. I have shares in 4 different accounts. If an approximation doesn’t satisfy you hard luck . I am not wasting my time going through numerous passwords for your benefit.
So within 10% approximation how many shares have you bought to end up with needing 100% rise to breakeven. You know full well that any interaction you have had with me has been derogatory and condescending over 5 years. Don’t forget simple mister red posts are worthless.
Slippery has just illustrated why I havnt disclosed my holding previously .Cnr is my largest single holding atm and quite large enough for my financial position.I do hold a lot of other shares though, would never have the majority of my pf in a single high risk share. Because somebody’s holding , wages ,free cash are smaller doesn’t mean that they are simple or have less right to opinions but you shouldn’t be surprised when if you make it ugly you might get ugly back. I try to have reasoned discussion but with a few of you it’s impossible. When most of my posts are attacked by a particular little group of you here you shouldn’t be surprised that it is pointed out when invariably points raised turn into facts, particularly when it is a series of unfortunate events. Not de ramping or any personality disorder you may want to attach. Best to disconnect now. All that really matters now is what return we get, your dividends and £s are long gone let’s just hope that we get a deal and at least 100% rise !
Gday
Nero, between 30-40 k . What u want an audit. I see you Havnt posted how many shares it has taken you to need over 100% to break even !! Not even an approximation. Maybe you afraid Mrs Nero will see where her house hunting money went! Of course being on a bb I could lie and say I hold 1% of the company etc.
I bought Shanta when they were around 4 p and have traded a couple of times so fairly happy there especially with w Kenya resource bubbling along. It is a very high risk business and many more fail than succeed for many reasons which is why it is best to be cautious.
You know what they say about sarcasm Nero.
As I thing big dog said to you, you don’t have a monopoly on opinions.
Https://www.prnewswire.com/news-releases/b2gold-completes-the-sale-of-nicaragua-assets-to-calibre-mining-corp-300939206.html
$40 m cash
Here’s the deal . As I said not apples for apples but still 2 mills and onward exploration. peeps expect considerable premium for further exploration, how much exploration do we think is in in this deal on top of two mills? Calibre already had connections with b2 it has to be said and it is a strategic re organisation that benefits both not a straight buy out.
Cf, agreed b2 restructured but they did retain a 30% stake in calibre , I assume because they knew the further exploration potential. Otherwise they would have sold out completely. Of course it is not an apples for apples comparison but it was two mills and further exploration potential and really didn’t take long to be very profitable for $100m and no further outlay.
Nero, how many shares I hold really has no importance in respect to posting validity. My holding is small compared to many here probably. I have stated that I trade when sensible to increase my holding and reduce my average because I have little free cash. My main investment is my home . I also have many investments but Cnr is currently my largest single. My holdings are between 30-40 k No doubt you have considerably more but doesn’t invalidate my views . Just means you have invested much more cash and need over a 100% to break even. How many shares have you bought to need 100% for breakeven.
You say that I have always posted negatively. Posting that a dilution is due is not negative , just stating the obvious. Stating that we needed a bfs when you disagreed and quoted mc was , well correct .stating sanctions were likely and it would be a negative was true. Mc has just confirmed what I said That the dilution needed for mine building would be a huge. None of this is actually negative posting , Is it?
Hi Nero, just for the record what have I ever posted that wasn’t factual or end up being correct? I could point to your posts forecasting dividends in the future being the real prize yet now you state that Cnr never aimed for production. Are you a manx man? The problem is too many here confuse realism for negativity . I have traded Cnr when sensible to reduce my average. It is now getting close to 20 p. Suggest yourself and a few others read back 4 or 5 years on your posts and evaluate your posts. I am positive that a share price in this region will double if a deal is struck and I am happy at that level. Just like when many were forecasting £s I said 70 p would be decent you berated that in your own inimitable attack dog style.
Let’s get one thing straight connect, I certainly do not get pleasure in seeing others lose out, I have been a lone voice here warning that over optimistic posts can lead to making bad investment choices and so it has turned out as I am sure you should know. Let’s see what happens !