Hey
@Freestar ,
I've been thinking about whats happening here last few days and thinking back to when I've met management at conferences, investor calls etc.
One thing that really sticks out here is that Nick Woolrych has been brought on because he is a mine builder and a guy with sophisticated finance background for UG mine builds/commercialisation.
He wouldn't have come into this role with less than a 24 month time line as that's what it would take for him to stretch his legs. He hasn't had a very long period in the role and has achieved a lot in a short time.
Unfortunately it looks like the original NWC board/management control the direction and it looks like they want out.
Does someone have a need for large amounts of capital? they are tired, other projects they're more interested in? who know but to give this away right before the rerate is disappointing. Its been dark and we are at dawn just before the sunrise is the simplest way to phrase it.
They have a history of finding projects, developing and flipping but maybe not the best asset management skillset. Just an observation, and I'll leave it at that. It's all there for anyone to research the backgrounds and past transactions. Mike is a great project generator.
3x from current offer and its still a bargain for any buyer, especially with current policy in US re commodities, tariff exemptions, copper bull is really just starting The FCF numbers provide a much better idea over rough and ready NPV numbers.
Based on how things have played out over last few years , these guys are very good project generators but not very sophisticated re finance side/asset management re register, attracting loyal cornerstones (Peleton a few years back was a shocker). That's the only conclusion I can reach based on recent events.
I'm interested to see how next few weeks play out, as just because we have a scheme of arrangement, this doesn't preclude a superior offer. Lets see if the financial crew in NWC can attract some proper bids.
You mentioned BGD, there is a great set of asset management, headed by Alex.
That's how you realise full monetisation of an asset.
"Tomorrow's upside value for today's shareholders"
Goldies have performed well and will continue to do so.
Copper is starting to get movement and the amount of activity recently in the space is demonstrating that.
The best people to follow for understanding value and getting quick insights into good management and projects in the small cap end are
@binwood ,
@SilverFox88 ,
@Wack ,
@fbx258 ,
@arsenic , @sethdavis
They're all very switched on and successful investors.
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