RE: Drachs25 Jul 2025 17:24
LMA - gave said before. I was so prepped for the sale to be my exit after the boys confirming they weren’t actually going to be biilding the thing.
The sale was a shocker and way below NPV of the project irrespective of any intention to actually crystallise the profits FROM said project. As JM said, gold is gold is gold. If it's in the ground or out, it doesn't REALLY matter for the medium term. He always just treated it like an appreciating asset - so I'm hindsight the fact it wasn't going to.get MINED by those guys was quite obvious. That left us with generating vakue at point of sale (only value that was more representative of the La India NPV.
That just didn't happen, much to my - and may others' - dismay.
So to have a naff deal, then learn that were in for another few years was annoying to say the least.
Now, that being said, the rate that DB has mobilised on the project has been great, and enough activity's happened in a short space of time that - guess what - people are seeing the reality of the project come to fruition.
For a project that's st there for years accruing value, this is just brilliant. You've got an appreciating asset, a financed project management team, lowering AISC and widening margins.
That's why I said to the resident clowns yesterday- you only need to do a bit of very basic maths to see what we've got here. The difference between MC and DB is that DB's absolutely got the ability to out his money where.his mouth is. Mark was never able, because his point of.transition away from.the project eas the sale (where he and JM really.did flop).
Darren's teal will take this to production, and it'll absolutely rocket.
I'm still a silly little comdorian annoyed at that sale. But if we've got someone mobilising with the vigor that we do, I've got nothing to complain about.
Sign In
Follow the stocks
