Why I say stale?
By the sounds of things there have been many chances for everyone to get out... but they haven't.
They have been a shell with little to no cash burn for the past year or so.
A shell's main purpose is to find an acquistion.. hopefully a good one.
Said shell finds one.. yet everyone still remains stale... I totally understand past promises not going ahead - at least now there is nothing to do apart from research and hope it goes through.
FYI - as I said before, look at MDI. The Sandstone Mill was only a tiny part of BOK/SXG's portfolio - now standalone demanding a 30 mill m/c. There is no reason why this can't be the same.
Yes 25 million will be needed for Marda - but if all the other assets are able to produce 22,ooo ounces p.a at a reasonable margin, then a mix of debt/equity isn't out of the question. Small steps are needed.
Much more easily said than done - but as I said - firstly just wait for 30 days for DD and then you can re-assess.
Why I say stale? By the sounds of things there have been many...
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