Thanks 7seven7, appreciate the response.

First 163 Last

Share
Profile

Follow
DimDim

53 Posts.

11

30/05/24

17:23

Post #: 74088766
Share

Originally posted by 7seven7: ↑

Regarding the sale of plant equipment in the DR. Some minor equipment sales have already taken place. Some deposits received for sale of other equipment also. Major mining equipment has two parties doing their DD and making offers. Aiming to complete the sale of all equipment in the next couple of months. I did not get any indication on $ amounts so far received or what is expected. Arbitration funds expected July/August if I remember correctly.

Seems there may be some questions around the activities of the Con Note holder. Investigation to see if contract/laws were broken. I guess many of us already suspected some foul play with this one so no surprises there. Looking ahead... the con note holder has no shares left to dump so hopefully trading of this stock can start to stabilise now.

Regarding NS progress. Things are moving and aiming for an agreement for finance and offtake in the next 2-3 months. Other party is completing final DD. Funding appears to be agreed in principle should the other party wish to proceed. It sounded very encouraging.

LD progress. A bit on the shelf with focus now on getting NS off the ground. I guess they wish they had NS earlier to have put the money in to that instead of LD. DFS still on the way. Two major parties have shown interest in coming in the project as a 3rd partner. Again, this has been mentioned in previous announcements or presentations.

Apparently the Cubans have another gold project (~1Moz) that will be considered for AAU once they now show that they can get a mine running (NS). This is the one mentioned in Brian's last presentation he did at the investor conference in Sydney a month or so ago.

My general feeling was that we will have continued turbulence until there is a solid (fully funded) pathway to production from NS. And I hope we are there by July/August. I said that my feeling is that shareholders would be happier with a poorer deal than no deal at all. We need to get a mine up and running to get cash flowing in to this JV with Cuba.

Expand

Thanks 7seven7, appreciate the response.

AAU Price at posting: 0.7¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

What's causing the cost-of-living crisis, and how to navigate it

NVU

Nanoveu surges 10% after benchmark testing for new AI chip begins

MTH

Mithril's drilling in Mexico picks up silver at 997g/t, gold at 28g/t

Week 42 Wrap: HotCopper's top picks; new ASX 200 record; world yawns at war

SNX

Sierra Nevada raises $2M for silver exploration at Blackhawk

IRX

InhaleRX snags $38.5M in funding from VC biotech funder Clendon

TLG

Talga Group wins key permit for flagship graphite mine in Sweden

M4M

Macro, Norden set up transport solutions initiative for West Pilbara

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

SWP

Swoop lobs $18M offer at microcap telecom Vonex – in which it holds 19.9%