Member Info for user2007

Ronald, equally, if it was so bad why would BMV be trying to get the other 50%? BMV could have left it and waiting for SAU to find a buyer. Time will tell, no point to argue ...

If we go back a few months, BMV was about to progress to another stage with secured financing of their 50%. The market
recognised that progress as the sp went considerably up.
Then SAU decided to walk away and BMV now trying to get on with the new reality. Yes, the best outcome would be to acquire the other half. But I can certainly understand that it's not easy to get another ~$10m for a 14m MCAP company.
They can't simply crate $10m out of thin air - they are not a government :)
I bought another 100k and will buy another 100k in two weeks, maybe a wrong call ... Let's wait and see a few more weeks.
I wonder what would be the reaction and sp if BMV decided to sell the co to a major or mid tier miner ... Just a thought, no idea how realistic it is.

I agree that the communication from the BoD is not excessive by any means, that's for sure. However, in situations like this, let's be realistic and assess the facts:
1) It wasn't BMV walking away from the JV. It was SAU.
2) BMV felt they can secure finances to buy the other half and maybe expected the price from the arbiter to be lower.
Despite delays, I think this is still the quickest way to conclude it, rather than waiting for SAU to find a buyer.
3) The figure from the arbiter might seem high but from a mid-long term perspective it's not too bad.
It represents equivalent of 6k oz of gold. Just 6k for the other 50% of the JV.
If we believe the story in the company prospectus, it's no brainer, as long as it can be financed somehow ...
4) Financing: Maybe the Bod expected let's say $6-7m to be paid for the other half but it's $9m instead which is
more difficult to secure. However, they stated that non-dilutive finance is preferred, good for shareholders
5) Lack of timescale: Contract negotiations take time and committing to some fixed dates might give your
opponent advantage. In this case cash, royalty or other options are considered so it needs time to find a solution.
6) SP is drifting on relatively low volume when no news is expected which historically is no surprise here. People chasing
other opportunities.
7) Despite poor communication, the Bod are aligned with shareholders as they don't take big salaries
and have their skin in the game.

Not happy with the overall 12+ months delay but still holding as the story and gold is still there, potentially
more of it for us once we own 100%.
Just my view.
GL

A nice 1,000,000 buy from Friday (I assume) followed by 150k buy ... somebody is confident ...

Yes, realized there was a typo ...
www2.asx.com.au
is the correct link. Hotcopper worked as well.
Thanks

dawnraid_
I assume the time refers to SAU RNS tomorrow.
Could you please provide a reliable link where it should be published? Sorry I've never dealt with SAU or any Aus co so I have no idea about their RNS system.
Thanks

I would prefer BMV trying to buy the other half with a debt only.
It might be painful initially but getting the 50% of the co just for 5k oz of gold worth would be great mid-term.