The price action here is ridiculous post that RNS yesterday.
“In the event of a change of control of the Company, 50 per cent. of any unvested Performance Share Rights will vest immediately, provided that the Company's share price at the time of the change of control exceeds 0.34 pence, being the share price when the awards were made.”
Change of control provision, hmmmm!
Also options strike price higher than current mkt cap. I think the 0.30s about to become a distant memory. Onwards and upwards!
Yep agreed daz, this is a great sign. The final ducks have been put in a row; most telling is the lion’s share of the shares are awarded on first production - they’re not messing around! I think funding has been secured and will come with or soon after the mining licence.
It’s in a tiny fund at M&G, this will give them 5% of znwd, the current value of that stake is about the same size as their initial stake in bcn. This is exactly the sort of thing they want to reinvest in. I think they add here, as exposure to firm is only 5%, they will have room in their mandate to at least double that…
Malik i think this is hugely bullish. Clears gangfeng out the way, but also feels like it was a stipulation of the institutional holders to access an undiluted exposure to the znwd asset. I don’t care about grades size etc, this is a way better way more strategic asset than sonora. This is an exciting bit of chess, there is no other reason the company would have done this, other than being told by the authorities that ganfeng had to have holding diluted - which in itself underlines the strategic importance of the asset.