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Just 15 cents under the $3.60/lb modeled price now
definitely looks to have put a rounded bottom in recently from here
Having a whinge on a bulletin board in my experience achieves zilch.
Email the Company - I have been in one where shareholder pressure changed the terms (trigger points) of Director options awards.
Very interesting point made on the Telegram group about the 3% royalty we have on Root Lake lithium....could they look to sell some of this back to Green Technology metals (who recently completed a $55mln raise so have the cash)
Given the geography, the lithium could easily be split off from the Junior Lake property - it is also not held by Landore Canada ltd too
DD from multiple parties too
https://www.sec.gov/Archives/edgar/data/1718405/000121390022035316/ea162166-13da3sprott_hycroft.htm
Sprott just sold 5mln Hycroft at $1.275
Comfortably enough to convert their Landore warrants...
Maybe they have more freedom than other Funds to invest - what would have been the mcap for example of GGP when they took their stake at 2p or so?
You are aware of the warrants I presume...? Some just want to flip them, possibly JH following a fall out maybe?
In for the sale, once the 14th passes the warrant issue disappears.
https://uk.advfn.com/stock-market/london/primorus-investments-PRIM/share-news/Primorus-Investments-PLC-Investment-Update/88498882
Purchased 1mln at 22.598p
They bought £630k of GGP at 2p and sold for £6.5mln so here's to them doing similar (or better) here!
They could also be scheduled to receive £300-400k next week IF the Directors choose to take up their options expiring on the 4th. A further £300k on top is the non-Directors take their 525k as well
Bill has 500k, Charles Wilkinson and Helen Green 25k each.
Given the ongoing strategic review, they cannot buy on the open market, but option take ups are exempt.
It would also be a huge signal to the market as these options are priced at 63.80p
....which campaign would that be if the gold, nickel and iron resource is sold?
In the event of a sale, what would the funding be needed for?
Glenn's comments at the recent Proactive presentation highlight that they see the only way to recognise fair value is via a corporate transaction...the market isn't seeing value via drilling and resource upgrades.
Will be rns'd once funds received by Landore
My take is, given how the sp is now sat at the conversion price is that the Board will happily let the 14th come, and go with not much move in the sp until then. I also think the Board are largely ambivalent to the current share price....they feel a deal is there to be done, and will be done.
They suspect Sprott will exercise - how else does he get 8mln shares at 20p just ahead of an asset/resource sale? The other holders - given the destruction in equity value the Board have commented on from significant holders selling, I suspect they couldn't care less. Those warrant holders now either let them expire or cough up - zero margin to either forward sell or flip to cover costs.
If the 50% of the July warrants not held by ES expire...then we have 8mln or so less dilution, around 6% or so. The transaction will be priced in USD (not £x.x per share - although obviously this is implied in a cash figure) so the less shares around the better for all existing holders.
Bill's attendance at PDAC confirmed to me this morning.
As a PDAC veteran, Bill will know that most of the serious talk is done away from the floor and at events etc...I'm sure he would have had a full itinerary of meetings
https://twitter.com/landore_plc/status/1534789124976218115
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@landore_plc
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#EV #BatteryMetals #LND #Nickel $Gold
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Gold
—1.5m oz Au Resource
—1.25 years payback @ $1800 gold
—21 oz for every metre drilled
—$333.6m NPV
—40km strike.
—833,000 oz in Open Pit
Already been done
https://twitter.com/ToughCrates/status/1532013316679286785
It's a short week with bank holiday...and half term
Markets quite across the board
Edit:
He mentions that they couldn't just sell the shares but could do a placing on the back of their good relationship with management which would net a further CAD $3mln (£1.875mln)
Glenn's comment at 26 minute or so....they have cash from May warrants (£1.5mln), and cash coming in from Miminiska next month or so $250k.
He mentions that they can sell the shares but could do a placing on the back of their good relationship with management which would net a further CAD $3mln (£1.875mln)
16mln warrants in July - work on his conservative 50% conversion figure...£1.6mln from this.
Funding requirement for the 2022-23 campaign announced is CAD $7.5mln (£4.68mln)
So £1.5 + £1.875 + £1.6mln = £4.975mln
Funding requirement sorted with no need to place.
https://twitter.com/Chrissygun/status/1531189511304142849
#LND from their fantastic presentation. Bill says “3,4,5m oz OPEN PIT” Sarah says “you just said 5 million there Bill” his reply was “ I did and I meant it” Company up for sale
Just the open pit...5Moz
https://twitter.com/Dobbo761/status/1531218813940813824