focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
tornadotony re your two points:-
1. They don’t know enough to run a mine safely. The company website includes details of the senior management team. You will see decades of relevant experience from numerous individuals.
2. The resource report cannot be trusted/is incomplete. A fully independent JORC report was in the prospectus. This has been updated recently. Again check the website for the details of the group mineral resource manager who oversaw this work and has 22 years relevant experience. It was not simply the CEO who cobbled something together. I’d also highlight the recent scoping study which was deemed acceptable to lenders (one of whom withdrew for other reasons as per recent Rns)
not everyone agrees:-
https://twitter.com/JB_MiningAfrica/status/1613621479630901268?s=20&t=lNWcM5K7YreKvNyddxwoFw
Stating the obvious I know but we desperately need confirmation that the $3 million funding is secured. I know they’ll be furiously working on it and it won’t be for lack of effort that it’s not been finalised yet.
We have the scoping study numbers and given that gold is well up on those used in the study the figures seem robust.
In order to derive a current fair valuation the question seems to me to be what level of risk should we now attach to achieving the project. After yesterday’s news the risk has undoubtedly increased. Using the back of a very small envelope I think 0.75p is around right for 60% chance of success. Unsurprisingly, sentiment is at a low ebb and so the share price sits below this figure.
This doesn’t factor in other prospects.
What do clever people think ?
I don’t think that is fair. It does seem that it was dependent on the expansion/production plan which assumed the OCIM money though and so really should have been expressed to be conditional as well.
Why they couldn’t they just take a charge over the UK holding company like Goldplat did.
Complicated all these international finance deals. I wonder if France had won the World Cup it might have gone through.