So currently the entire market cap of BML (who owns 75% of the project) is $20M(AUD)...... and BML have negotiated an option to acquire the remaining 25% for $23M (15% more than their own market cap)? This is a clear indication that financiers haven't been willing to fund the project while it has a 25% Chinese ownership. So despite a very strong silver market (and improving Lead/Zinc) and favorable DFS; progress towards building the Sorby mine has been going nowhere. And BML management are now offering a massive premium (based on market valuation) to the minority owners in order to get the mine financing to develop it. No details though on where or when BML is going to get that $23M to close this deal. BML shareholders are just another pawn in the battle of global sovereignty tensions to retain mineral resources.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)