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1.4¢ tombador iron limited

this is correct.Royalties will be around $30-35M AUD.Stockpile...

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KernelSanders

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29/10/23

02:41

Post #: 70596751
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Originally posted by goteagles: ↑

On my read, once this is all closed, the Aus listed company will be left with:

- AUD14m-15m approx. existing cash (probably less given costs of the transaction).
- AUD4.5m approx. from (1) sale of mining concession (2) "related assets" (undefined) and (3) tax refund.
- 4.25% royalty entitlement from the revenues derived from mining concession.
- an amount to be agreed for the iron ore stockpile (I read this as being separate to the acquisition of the mining concession).

Happy to be corrected if I have that wrong.

Obviously, the situation is f*ct for shareholders (inclusive of myself). Especially as against prior expectations.

If we take a step back and try find a positive, though, there was a geo-technical event where the operations were suspended indefinitely and Tombador (I assume - we don't have this detail) did not have the funds or access to funds to address the issue in a way that made the project viable.

Usually that means insolvency for a junior miner.

If we end up as shareholders in a shell with, conservatively, in excess of AUD20m - that is a small positive. There is at least a prospect of a new project without significant dilution. I think McRae Investments would be motivated in this regard - this is not a good result for them. The problem is a new deal/project won't happen until there is a decent market - who knows when that will be... I suspect we'll be sitting here waiting for a couple of years.

Again, happy to be corrected if I have read this wrong.

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this is correct.

Royalties will be around $30-35M AUD.

Stockpile $6-$8M.

total value around $55M AUD

TI1 Price at posting: 1.4¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

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this is correct.Royalties will be around $30-35M AUD.Stockpile...

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this is correct.Royalties will be around $30-35M AUD.Stockpile...

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