Hey Home,
Like you I think the price is good (not a bargain, but... then, compared to the $500 an ounce in resource that RMS recently paid to aquire SPX....)
With access U/G and permits in place, this is a very savvy bolt on acquisition.
At 100,000tpa, the Sulfides could easily ad 20-30k extra ounces to their overall project. That is a very substantial increase on the current mine plan output.
Whist the upfront cash component is a little surprising, Novo obviously is bleeding cash.
This sort of acquisition reminds me of RMS purchase of Vivien (cheap price, and has produced for years more than the initial purchase envisioned).
100% a capital raise is coming. But.. I think the market will like it.
I also like they are probably going to be able to mine the tailings too.
Hey Home, Like you I think the price is good (not a bargain,...
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