The performance of GOR in a rising gold market is appalling ,its down 25%.Since Gruyère is a good asset it’s because GOR management has wasted the cash flow from Gruyère plowing it into unsuccessful exploration and DEG the Clunker.
The reason for Goldfields to take over GOR is to get the 50% cash flow from Gruyère.GOR is currently values at 1.73 billion AU$ .This is about 1 billion US or thereabouts .Then sell off DEG and the rest of GOR and you get 50%of Gruyère you dont own for around 750 million US.Given an apparent major bull market in gold I would think that would be a good deal buying the rest of an asset they already run .Not many producing mines out there world wide as good as Gruyère for that cheap.They could even reduce the share price cost further by selling a royalty to FNV to finance the transaction .Easy/peasy.
Ann: AGM 2024 CEO Presentation, page-26
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Last
$1.68 |
Change
-0.030(1.76%) |
Mkt cap ! $1.815B | |||
| Open | High | Low | Value | Volume |
| $1.72 | $1.72 | $1.67 | $4.835M | 2.881M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 12880 | $1.67 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.68 | 19089 | 1 |
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| Last trade - 16.10pm 03/10/2024 (20 minute delay) ? |
| GOR (ASX) Chart |