Ann: Trading Halt, page-18

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CEOChair

27,717 Posts.

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08/07/19

10:36

Post #: 39416911
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Originally posted by fourdollars ↑

At the risk of an optimistic speculation about a trading-halt announcement being right about one time in ten, I'm in CEOChair's corner for this one.

With respect, I can't see how Davisite's theory about the same amount of ore spread over 8 years instead of 5 can make sense, as the AISC (however crazily calculated) would make the mine uneconomic.

So why give a teaser by mentioning "8 years" when a bland "pending the release of an announcement to the ASX regardingFY2020 guidance and updated life of mine plan for Mt Morgans Gold Operation" would have sufficed ...?

My can-something-actually-effing-go-right theory is that its a last ditch attempt to tease a takeover offer out of those "unsolicited enquiries from corporate entities". It gives them 2-days to lob an offer that the Board can tout as a xx% increase over the last trading price of 52.5c so they can add "secured xx% premium takeover offer while a Director" onto their resumes and realise all the value of their cheaply issued shares / options.

Otherwise, even if CEOChair's SP speculation of 90c on relisting is right, the Directors still face an "eroded over 50% of the value of the company in 2-3 months" report card and the pesky inconvenience of not really being able to sell any shares ....

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“ I can't see how Davisite's theory about the same amount of ore spread over 8 years instead of 5 can make sense, as the AISC (however crazily calculated) would make the mine uneconomic.”

Nail on the Head, $4.

Last edited by CEOChair: 08/07/19

DCN Price at posting: 52.5¢ Sentiment: Buy Disclosure: Held
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Ann: Trading Halt, page-18

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