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Gold smashed $2100 resistance so where gold prices might go this year we will find out. Maybe finally gold price rally will get serious as expectations change. Certainly will help focus minds on getting this deal agreed.
Calibre have already reported cash balances are growing and we are now at $2100 gold so Calibre cash balances along with all gold producers will be filling a lot faster. when Calibre was making $500 profit per ounze it will now be $600+ so in percentage terms pretty decent.
Calibre have hit a valuation of nearly $1.2bn so Condor at £100-£150m is barely less than the cash they have in their bank account. Calibre could do this for cash if they wanted, toll the high grade gold within 3 months and have that debt paid down over 18 months while the mine was built. They could also use their towering valuation, that is getting stronger by the day, do this partly in shares. The value added to the market cap of Calibre woud probably exceed the placing of 5-10% maybe. This could be a freebie for Calibre if they structured it correctly. shareholders of Calibre would immediately see how they can fully utilise their Nic spare capacity and how quickly this would pay back. The question is whether China will offer a higher and more favorable cash offer or would Jim take a slice of Calibre instead. There is any number of ways jimn could structure a deal with each bidder and really it should be a lot quicker. What also makes no sense is that getting any deal announced should lead to further bids as we are told there was almost 10 companies showing interest. With the amount of cash being generated by gold producers at $2100 gold they will have a lot more cash to use now given over 12 months has gone by. Hopefully a deal is announced in next few weeks as we were told back in december that out of the 10 interested parties this was whittled down to 2 who we were in "advanced" talks. That would normally mean the nitty gritty of highest price only as the rest of due diligence should be settled long ago. Jim needs to show his prowess for getting a deal done as my understanding we had plenty of offers but not at the price Jim wanted. What price we had before is anyone's guess but Jim with his billions probably has no reason to rush but even he must be looking to tie this up now. gla and lets hope we do not go into April without a deal.
Sounds like something is cooking. Maybe Ivanhoe are going to pump a load of cash into exploration and split the spoils. Worked out quite nicely for GGP holders. Hopefully we see 1p in the rearview mirror as .8 is offensive and hold is smashing on towards $2200 :)
Totally agree. Calibre will probably not want Chinese on their doorstep luring staff and cosying up to Ortega with their different approach to doing business. It could be very potentially problematic in a few years for Calibre if the West continues to move out of China and looks at how China have cosied up to many small countries around the world and having pretty strong control over them. I suspect for the sake of a relatively small amount of money Calibre would prefer to keep it local.
With gold teetering on $2100 again Calibre could afford to pay more and with some tolling at these gold prices pay back its purchase. Given how strong Calibre is an all share offer would cost them barely 10% dilution. If i was Calibre i would strike an all share deal at 50p and start counting the money. Only 5 years ago tables could have been turned and Condor might have done a deal with B2Gold but thats showbiz. Time for Mellon to show his cards and close the deal.
Would be great to smash $2100 as expectations as interest rates fall is for gold to take off to a lot higher. All falling into place and makes those profits even bigger and investors clammering to get involved. This could continue the march onwards on monday as gold miners and developers come into focus.
When Harry has something to RNS he will. We know equity investors have gone to boards to approve their investment. Some will have done that by now and others might take a little longer. Best case we RNS monday but could be middle of March. key is we are only burning a tiny $200k a month and we had powder dry until May at least so we should have plenty of time to reach 2.4p to trigger the warrants as i expect will be the case. Once that happens the share price will catapult forward as we will have the cash for Saudi and hopefully get cracking on a Saudi listing and potentially a much bigger raise. We are aware other projects, that have listed in Saudi, with not dissimilar assets to Artar/Kefi have been worth in excess of $1bn so done well Kefi can considerably advance its value through that direction. We are barely worth £40m so this is laughable. Even without Saudi assets just for TK post funding we should be £120m+ and with Saudi and a good wind double/triple this. Could be a lot more.
I think buyers like Calibre will be looking at speed of payback and that is incredibly attractive on this project. 12 months from first pour this could pay off the mine build cost but the mine at this point will be worth £200m+ so a mine builder could then refinance and get out their original investment so theoretically this could cost someone 0 but hold a mine bringing in close to $100m a year. While its a great buy Condor is only strong in negotiation if we have 2 serious buyers. In this case, and we must assume that to still be the case, its logical the delay is down to bids. We will see but even Jim will be looking to close something in March and probably next few weeks. Just cant keep on going like this but for new investors this could be a very likely double bag and downside at current market price below book value offers limited downside. The plan B will be to get some sort of mine underway. Hopefully we are heading to a photo finish very soon.
Second wind now push on through .9 and then onto a penny. Always going go be little pull backs as we go but we will be looking in the rearview mirror as .9 goes into the difference. Everything is nicely on track and maybe next week news might start to drop. bigger buys coming in which bodes well.
The next push to .8 is back on. News could come anytime on any number of events as we lead to financial drawdown. Will we get final credit approval next week for 2nd bank? Will we get confirmation of investors credit approval? Really once those drop we should be taking off like a rocket towards drawdown and news on Saudi projects will really start to get exciting, afterall a lot of people are here for Saudi projects which massively eclipse Ethiopia in the medium term given the partner we have and the funding readily available to get on with the nine. Exciting times for Kefi holders.
Its certainly embarassing they cant seem to be able to organise a whipround at the local pub with what appears to be poor communication from both parties. I suspect any update on operations will happen once money is deposited. DP has got us to this point. However the market cap is at an all time low from bitter investors offloading their remaining holdings as they probably could not stand to see the 90%+ loss on their investment which was done on what DP and Align was all saying about the future but it was really just DP hoodwinking investors as when you look back DP barely ever invested in Eqtec stock and i am sure he just about to organise a boatload of options for himself and the board st these levels. We will see. I am fully supportive of technology and we have plenty of value in the business but little confidence in the board from the last 3 years of RNSs that were retrospectively overly bullish. We are where we are but we are in an interesting position where the market cap in unhinged from value but trust in the board and what games they might be up to is the bigger issue.
If done well binding offer does not mean final price because one of the other suitors once faced with a deadline could well table an offer. I just do not understand why they have not adopted that approach. So many companies have an offer but someone else makes a last minute bid. I do not think bidders have luxury to not allow that unless its a knockout bid. Lets hope we are very close or surely since we had “2 advanced parties” in December 2-3 months later you expect a substantial update and not just a continuing conversation. Mellon must know his stuff so we are probably fortunate he is handling this but he is also so rich he could also not mind on the time taken. he can play the long game but equally agree Nic govt will be keen to sort this deal out also so will be doing what it can but also telling Condor to get in with it. Maybe they build the mine afterall or something completely unexpected. I do not believe Hanna blabbed like this to a punter about price sensitive information when they will have all signed ab nda. sorry that story is ridiculous as that person would get fired.
I think Jim has been holding out on price for a very long time and at some point that looks bad on a so-called dealmaker as no deal should take this long to conclude. It is coming but unless its a decent once will not reflect well on Jim if he has just eeked out an extra few million for 6-9 months delay and possibly more as i am sure they did not start this process without some serious interest. It really needs to happen in next few weeks or the reputational damage to Jim could impact his overall positioning as a dealmaker. We will see. Fingers crossed he accepts highest bid and move on.
While some matters are distasteful, albeit i do not think intended given all employees of Eqtec will have lost money and once you get past this and reset and relook at Eqtec you will quickly potentially see a large scale multibag opportunity without even a great deal happening that we sre not expecting over the come 18 months. We will see how this plays out but obviously for many who only made a single investment i doubt anyone will recover the losses and that their stake today is valueless. That is a considerable tragedy and agree DP and JVL have a lot to answer to on that. However you need to reset and relook imho and look at this fresh and probably recover losses of the past.
I am happily building a new position as the company is worth more than £4m and given we have limited debt and a lot of valuable in assets you have to remember a lot of that £50m was invested in Italy, the US and elsewhere. While the company has written off the investment on its books we all know Northfork is about to be commissioned and go live and i expect that Eqtec will retain its 49% stake on similar once the dust has settled. this will lead to a $10m valuation that will be sold or refinanced. We also have a relatively solid case with Logik (spelt correctly) that is worth up yo £4m potentially + costs. There are assets like this littered around Eqtec that on commissioning of the plants will grow in value. if you simply get past the point of thinking Eqtec will survive you quickly see a company overnight worth £10-£15m and then with successful contracts with Idex incoming and more projects in the US will grow to £50m shortly afterwards. The downside is the bad taste left by the board in their poor risk management and potentially their relationship with altair and others who might have been selling us down the river. obviously if the share price was not bombed to this extent we would not be so upset.i am confident there is a lot of value in excess of the current market valuation that will be repatriated.
We are just so undervalued. we were over 2.7p in sept 2020 last time we felt the finance was going to be signed. i know as i bought some more at these prices :( Anyway lets hope this is the final one that everyone has been waiting for literally the last 10 years! For those lucky to be in this early on the upsurge i definitely am jealous as you have saved yourself the last 3 years of pain! There is a lot of news coming next 6 weeks so where this ends i am not sure by i am hopeful 2.7p will come into focus by then as would like to see my conviction in the project prove correct, even if Harry is the master of plate spinners. However most CEOs would have dropped the plates 5 years ago.
.8 crumbled in the blink of an eye. This will rise quickly. I remember s few years ago on expectation of the finance happening we headed quickly towards 2p that given how Saudi has progressed and reality of TK situation this feels extremely likely to be breached in the lead up to the expected news. Gla