Andy Well is a good option for those who have dealt with the...

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Lithos

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146

05/04/23

12:49

Post #: 67147575
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Andy Well is a good option for those who have dealt with the likes of West Gold on tolling. Refurbishment, including the replacement of plant that went to Deflector will be the best value, especially with the grade and nature of ore they have for the first phase of production. Also depends on what RMS are wanting to blend through Checkers (1.9 mtpa), as focus will be on recovery now as their ASIC rises, especially with the higher oil prices trajectory.

Originally posted by plough: ↑

If it was me I would make an offer as an undisclosed bidder for the small Andy Well process plant for the "easy pickings"
That way I could monetise the gold , with enough cash coming in to prevent further share dilution and act as a barrier to prevent disenchanted share holders from jumping ship if a take over offer was made .
Even then there is a possibility this will get snapped up , like what happened with Doray getting taken over by Silver Lake , but it would give directors a bit more time to get their house in order.
I would reinvest in this , how ever my first impressions when I met the MD Robert Waugh 5 years ago were negative , he had none of the fire in the belly, take no prisoners attitude I like to see with a MD wanting to go from Explorer to Developer .
Obviously a great geologist , just hard for me to see him executing a game plan , with a cut throat arsehole attitude to having a sharp pencil with contractor pricing and schedules and holding them to it , instead he is just a really nice genuine guy !

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MGV Price at posting: 20.5¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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