Unfortunately we seem to be treated as a Lithium stock through this turmoil, most Gold stocks have done fairly well.
This again reinforces the company's decision to demerge the 2 businesses. I think we've been hit by 3 different sticks, the general market downturn, the political situation in Mali, and the delay in the transfer of the mining License.
Hopefully we'll get an update on the license transfer in the upcoming Quarterly. This is just African bureaucracy and hopefully it is very close & the demerger timetable won't be too delayed. Even in a worst case scenario it's delayed another month, it will make no difference to the share price in 3 months time.
Looking at Tietto, its highest close is 53c and is currently trading at 49c, only about a 7.5% drop. I've posted it's details before, however Morila (without Leo) must be worth more than TIE which has a market cap of $350m. If you look at the debt it will have after building it's project, it would have an EV of about $530m. Our market cap is $735m, take out the cash and our EV is $635m
That implies Leo is worth $100m.
Ok we're sold down compared to them because of the political situation. As
@Finn has posted, this is fast being resolved. Even WAF another African miner is down no where near as much as us, and the military just arrested their PM, yet WAF is back up today.
I find solace in understanding why we are down so much, and knowing all the factors are just temporary, just that they've all hit us at the same time.
