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FM3 firstmac mortgage funding trust no. 4 series 1-2020

"performance shares are completely worthless because they'll...

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Hateful8

2,652 Posts.

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14/03/21

18:00

Post #: 51755999
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Originally posted by Corgi: ↑

Mate, no chance of the cost being spread out per your theory. Just crunch some numbers.

As of 27 Jan 2021, we had already drilled 3,031m. So say from Feb onwards, we still had 27,000m to drill, which should be complete by end of May, based on the productivity of the current rigs which I worked out in a previous post. Multiply that by $225/m = $6,075,000.
That leaves $1,525,000, which if you spread that out from June 2021 to Feb 2022, means the expenditure is only $190K.
So no, i don't believe that theory is valid. I believe they'll be sticking to their aggressive exploration plans for this year.

Look at everything we have planned for 2021. That is easily a $14Mil + Spend right there. Remember, we are planning on drilling right up until the end of 2021.

Too much focus on the performance rights, honestly dude, it means nothing unless there is a sale of the asset or many years down the line, the real the returns of their investment through dividend yields. It is monopoly money in the mean time, performance shares are completely worthless because they'll never be able to realize the full face value of them.

I've been fortunate enough to be invested in two companies that have received Take Over bids in the past 12 months. ARS & AME. Both received TO Bids before a feasibility study was completed. AME received multiple TO bids with the bulk of their resource still in the inferred category. The reality, be it, inferred, indicated, measured, This means Jack Shit to Miners looking to acquire assets, the only thing that matters is their confidence that there is actually gold there. If they know the gold is there, it is more then good enough. The only time the confidence level of the inground resource really matters is when trying to build a robust BFS for the financiers to finance the development of the mine.

No, it isn't complicated, it is a really simple situation actually. We are going to continue full steam ahead. Come Feb 2022 there is either a sale of the asset, or, we continue with the development and the Vendor has to contribute or be diluted. It is really a win/win situation no matter how you look at it. We will all make money and get paid. Or will secure almost full ownership of the project post Feb 2022 for a steal and the Vendor is a complete idiot.

IMO, if anyone hasn't already, time to go hard and secure your position before the herds join the party.

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"performance shares are completely worthless because they'll never be able to realize the full face value of them".

They come in to calculation when assigning a value though don't they?

Worthless or not 46'720'000 come on to the register on successful achievement of Class vesting rights 29-07-2021, unless I'm mistaken as to the process..

Sure they can't be flogged off easily but in determining SP value before and then after the vesting date I'm going to a value calc..

Assuming nothing else has changed, no MRE or Sale bid, then the SP is going to reflect the rebalance.

Actually it's not now because we might poss assume it already has to a degree..
FM3 Price at posting: 0.0¢ Sentiment: Buy Disclosure: Held
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