PD's presentation yesterday to RIU Conference is now available online. Link is below - alternative is a simple Google search for RIU Sydney Sunstone 2025.
Nothing earth shattering, but my main take-aways were:
1. They are obviously getting a much stronger view on the relative operational value attaching to the assets as they work the investment cases on the two assets. A few mentions of sub US$1,000 AISC for the assets when in operations / US$2,000+ operating margins at current prices.
2. He mentioned the level of corporate activity has significantly increased since they disclosed the two more advanced options to market as part of the necessary disclosure cleanse for the recent capital raise. Parties who had been going at their own pace have now realised they are in a competitive process and stepped up their engagement levels, with further site visits as a result next month (June).
Particularly pleased to hear this second aspect as it is competitive tension that will drive a good deal outcome for us shareholders, and now all parties know that they have a number of competitors to contend with.
STM Price at posting:
1.4¢ Sentiment: Hold Disclosure: Held
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(20min delay)