Ann: RMS: Response to EXU Target's Statement, page-32

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Davisite

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19/10/18

15:41

Post #: 36189869
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Originally posted by tangs ↑

Originally posted by Davisite
Hardly. We are in the same situation we were in from the start which is it is impossible to value EXU correctly until we get more information on Mace. We will now get it before the closing of the RMS offer (along with an independent report) and we can then make a decision.

Only RMS fanbois and fools would accept the RMS offer before the new closing date.

Originally posted by Davisite
Hardly. We are in the same situation we were in from the start which is it is impossible to value EXU correctly until we get more information on Mace. We will now get it before the closing of the RMS offer (along with an independent report) and we can then make a decision.

Only RMS fanbois and fools would accept the RMS offer before the new closing date.
Yes , makes some sense but if you're pinning your hopes on the update in about 3 weeks (mentioned p.21 target statement ) I really don't see that much could be done in that time frame .
They say the Mace update to comprise :
• resource estimate – an update targeting a JORC-compliantIndicated Mineral Resource estimate for the Mace Discovery;
(Are they suggesting they can come up with a JORC or are they saying they'll update progress towards it ??Someone please tell me if you've worked that out .)
AND scoping study – if there is an Indicated Mineral Resource estimate,a scoping study in relation to the inclusion of the Mace Discovery aspart of the Tampia Gold Project.
For me that beggars belief that if somehow they could get a JORC on Mace.(can't imagine how) , they would have time for a scoping study .
I'm actually less trying to be critical and more trying to work out what realistically can be expected in such a short time .

Expand

If the MRE is not JORC compliant they won't be able to release it - the days of just extrapolating off a drill core and hope are long gone. The same applies to the scoping study.

EXU might miss the deadline (which would shred managements credibility), but if they pull this off then it will make a great difference to the valuation and the shareholder's decision.

If you don't want to wait then sell on market, but I can't think of single rational reason to accept the RMS offer before the closing date.

Last edited by Davisite: 19/10/18

EXU Price at posting: 11.5¢ Sentiment: Buy Disclosure: Held
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