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Ann: $70 Million capital raising for acquisition of Morila Gold M, page-99

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ozblue

8,703 Posts.

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10/09/20

16:18

Post #: 47245847
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Originally posted by JasmineTea ↑

As you have quoted me I am responding in kind.

@ozblue "
It's like you can't comprehend that Barrick have sold plants in good condition before. In the prior case it was to Northern Star, who went from junior gold minor to a large concern based on the purchases from Barrick!!"

Different country and different asset. It is like saying because you know someone that won the lotto you should play the lotto because you are guaranteed to win. We are not guaranteed to win here we do not have enough information. Further to this Barrick was clear in stating that they do not make any warranty that the information MLL is stating to the market is correct or complete. Your statement is trivializing the risks to being a shareholder here.

"Yes the plant is going to need ongoing maintenance and capital items replaced over the years, no-one denies this. It is part of the normal operation of any processing plant. The plant is currently operating and will just continue to do what it has been doing, under new ownership."
- we have no idea of the current state / what maintenance was conducted considering they were tolling for MLL - it appeared to be an operation winding down. Not reflected in them jettisoning the asset to MLL. We are completely blind here and you supposition is exactly that.
It is your opinion and not a fact.

Your concerns last week were that the ASX would not allow the deal, you were wrong about that. Does it not make you think you could also be wrong about other aspects of the deal??

- ASX has already responded they are looking into the information I supplied. I never said they would not allow the deal. I stated that it was concerning that the normal independent reports on plant and resource were all lacking. You rephrasing what I stated is malicious.

Sit back and wait for more announcements over the next few months, especially the new resource update, mine plan, and drilling results as they could all be value adders in the short-medium term. Or if you get too worried, then sell now while the price is just below the yearly high.

Please do not tell me what to do. I lost a lot of money on ESR following your advice that everything was ok there. You are not a licensed financial adviser.

The market does not seem to have the same 'worries' as you do, otherwise it would not have hit a new yearly high last week after the announcement of the deal. Why didn't you sell early last week when the deal was announced and the market at a new high??

Your statement of a much higher valuation. Shareprice dropping from 22 cents to 17 cents and being down 15% yesterday show that this statement here is completely false.

I wonder if Barrick have some other mines they wish to get rid of?? It could be the 'regional acquisitions' management here have mentioned about the longer term...

I wonder....... This statement means nothing - it is not based in fact and is again your opinion with no research. You should state it is your opinion and not a fact. Clearly the majors are looking to exit Mali. I would imagine they have a much better feel for the location, state of the plant, resource and value to their shareholders.

The current falling share price indicates the market also sees concerns here, there should be a balance to blatant upramping.

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@JasmineTea ...." We are not guaranteed to win here we do not have enough information."

No there is no guarantee you are going to 'win' on any investment!! There never has been and never will be!!

It is as I've been saying for over a week a very good risk/reward play IMHO. It sounds like you don't trust the judgement of management at all, which begs the question of why you own shares in this company.

A currently operating gold processing plant is pretty good evidence that it can continue to do just that!!

You still don't seem to understand the difference between this purchase and what Winmar tried to do. Mali is not trying to re-purpose a plant.

Again I'll ask, what type of deal do you think would make a better investment?? So far there has been silence on this, why?

Can you show any deal where it has been risk free?? Can you identify any deal that was done cheaply and risk free?? I can't because there is risk everywhere.

MLL Price at posting: 16.5¢ Sentiment: Buy Disclosure: Held
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JasmineTea

377 Posts.

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10/09/20

16:44

Post #: 47246776
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Originally posted by Paulweller66: ↑

Even you, with your connection to the company and possible fall out can see this is a rare achievement and deserves praise for the current BOD.Wasn't it you that recommended James McKay?Thanks for that

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All shareholders here recommended him when we voted him to the board.

The Requisitioning Members found the directors..... seems we have collective amnesia about numerous poor decisions by the RMs.

What happened to Chris????

MLL Price at posting: 16.5¢ Sentiment: Hold Disclosure: Held
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