Ann: PRU: Perseus acquires 15.03% interest in Orecorp, page-22

First 22 Last

Share
Profile

Follow
jman0076

1,112 Posts.

320

28/11/23

01:19

Post #: 71135720
Share

Originally posted by nordesmic: ↑

There’s more nuance to it than that. To be clearer on my previous post, at this point due to the scheme agreement with Silvercorp, Perseus can’t engage directly with Orecorp to get access to project due diligence. They would have to make a formal offer without due diligence which would then allow Orecorp to say they prefer the Perseus offer (‘fiduciary out exception). Presumably Perseus want to do due diligence.
View attachment 5777344
Perseus aren’t here to get board seats. When they block the scheme then they can have a better look at the project and presumably more direct engagement with Orecorp. Silvercorp has been thwarted in my view. Maybe a JV is possible but it’s hard to see what Silvercorp offers and Perseus doesn’t need a funding contribution.

Keep in mind that when Perseus bought Orca Gold they initially bought a 15% stake from Resolute and then did due diligence. Within a month they made a formal offer (in scrip) at a big premium to what they paid Resolute. This seems pretty much identical strategy.

https://www.miningweekly.com/article/perseus-takes-a-stake-in-canadas-orca-gold-2022-01-31

As a Perseus shareholder I’m not totally enamoured with Nyanzaga. If Perseus eventually buy it then production probably wouldn’t start til 2026 (the back half I reckon). I’d prefer they got some existing production before then as Sissingue will be close to depleted and Edikan will likely decline.

Expand

Thanks for the breakdown Nord, your explanations help makes sense of a lot of the detail.

Any particular aspect of ORR's project that you're not keen on (grade, metallurgy, social etc.)? I'm not familiar with the deposit at all, but I'll take a look at it.

ORR Price at posting: 47.5¢ Sentiment: None Disclosure: Not Held
2 Upvote

0 Great analysis

Reply

Top Stories

Wealth Within weighs in on shock 4% inflation read – and stocks that could survive the gloom

SVL

Silver Mines models five new calderas close to 396Moz Bowdens deposit

LU7

Lithium Universe (ASX:LU7) board visits Quebec to engage key stakeholders

AVA

Ava Risk Group expands US presence with A$0.7M Substation Deal

CMX

ChemX Materials kicks off first stage works at WA high purity alumina pilot

Week 26 Wrap: Cerberus of inflation barks – rents, electricity & fuel – and world watches two elders bicker

SS1

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

LRV

Larvotto identifies new exploration target at NSW's Hillgrove, boosting shares by nearly 20%

Microcap Wrap: 5 explorers with news out today

RCE

Recce's R327 found effective against E.coli during clinical trial

There are more pages in this discussion • 32 more messages in this thread...

First 22 Last

Add ORR (ASX) to my watchlist

Ann: PRU: Perseus acquires 15.03% interest in Orecorp, page-22

Top Stories

Wealth Within weighs in on shock 4% inflation read – and stocks that could survive the gloom

Silver Mines models five new calderas close to 396Moz Bowdens deposit

Lithium Universe (ASX:LU7) board visits Quebec to engage key stakeholders

Ava Risk Group expands US presence with A$0.7M Substation Deal

ChemX Materials kicks off first stage works at WA high purity alumina pilot

Week 26 Wrap: Cerberus of inflation barks – rents, electricity & fuel – and world watches two elders bicker

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

Larvotto identifies new exploration target at NSW's Hillgrove, boosting shares by nearly 20%

Microcap Wrap: 5 explorers with news out today

Recce's R327 found effective against E.coli during clinical trial

Featured News