i agree things are starting to look quite good here. It could be...

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Preston3

3,181 Posts.

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13/11/22

09:11

Post #: 64740243
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Originally posted by Designated survivor: ↑

GOR will presumably be able to creep 3% of DEG in Apr 2023. Cost $60 million at current prices.
Later in 2023 DEG will announce its FID and at that time will do a placement/entitlements issue for around $500 million while the balance of the required funds (another $500 million) will be debt funded.
GOR should underwrite the DEG entitlements issue Equity portion and of course take at least its pro rata share of the Equity placement, as well as continue to creep again in Oct 2023. Total probable cost for all three would be at least $190 million (todays prices) and afterwards GOR will hold at least 26% of the enlarged DEG, maybe as much as 30%. I'm not sure all that is possible under the Corps Act, maybe someone can correct me?
All the above pre supposes that DEG remains around $1.30 ($2 billion market cap) which might be wishful thinking.
So the logical, and cautious, time for the bid by GOR for DEG is Q4 2023. Can they wait that long or will a major swoop before that time?

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i agree things are starting to look quite good here. It could be a interesting year ahead, even more if we see POG takeoff.

a joint bid with goldfields? Any solo bid would probably see goldroad swallowed up at a later date.

GOR Price at posting: $1.64 Sentiment: Hold Disclosure: Held
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Last $3.16		Change -0.005(0.16%)		Mkt cap ! $3.416B

Open	High	Low	Value	Volume
$3.15	$3.17	$3.14	$9.031M	2.861M

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Price($)	Vol.	No.
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14	25410	3.150
37	182658	3.140
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6	26821	3.110

Price($)	Vol.	No.
3.160	213147	72
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i agree things are starting to look quite good here. It could be...

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i agree things are starting to look quite good here. It could be...

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