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ramthegoat

67 Posts.

14

01/04/24

11:32

Post #: 73134155
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Originally posted by Dazedandconfused: ↑

Hi ramthegoat

I would only be guessing. But I think it is unlikely at this stage.
CAI has $61M outstanding debt and a hedge book $80M underwater. Anyone offering a TO bid has to add that to the price. Any bid that did hit the table would likely be an opportunistic offer trying to take advantage of CAI's financial position.

If the Felix prospect is hiding a major discovery then CAI would definitely be on the radar.

The problem for CAI was the overestimation in the MRE of the grade coming out of Klondyke. The projections in the PFS had CAI debt free at this stage. Klondyke was supposed to pay for everything.

Although that is a problem now solved there is still plenty of execution risk in the plan to reach 120,000 oz production. If there is someone running the ruler over CAI they would probably wait to see if that works out... imo.

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Thanks for quick reply mate

CAI Price at posting: 11.5¢ Sentiment: Buy Disclosure: Held
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