Good post JID, and good know you are still keeping an eye on CAS.
Like you I have pondered CAS/BDR as a good fit. BDR needs another substantial project and CAS has it sitting ready to go. Very similar to Trucano with a large open pit etc.
Personally, I would love to see CAS get a free carry to production, for say, 25/75 split. Which whilst initially a lot payment for CAS, it will reward the in the longer term once the cash starts to roll in. Sure I would prefer a 40/60 split, but I am realistic of the position CAS is in.
Farjoy would have a strong reason for becoming a substantial holder in CAS and BDR...
I have stress this exact scenario to CAS, for now they perfer not to give me much to go on, but... they are now actually looking at all options. Perhaps annoyingly because they have to but whatever the case, CAS must start to unlock some value for shareholders. They have been too long at this venture with no return as yet.
If BDR did make an offer for Borborema, it would of course be a low offer, but right now, the market values it at zero, so anything decent above that would provide a strong catalyst for CAS to have a re-rate.
Juruena would also be a great addition to BDRs portfolio. Especially since BDR seem quite apt at proving up more gold.
GZ etc. While the falling SP is frustrating, I have just added to my position today (relatively comfortable in doing so under the Cap raising price).
IMHO - Those selling are either making a tax loss or simply impatient. News flow is coming. CAS has quite a few things going on, considering the size of the company and its assets. Yes, I am still annoyed about the Cap raising, but for now I am more focused on having a solid position for when CAS does turn things around (or I hope they do).
CAS Price at posting:
16.5¢ Sentiment: Hold Disclosure: Held
