I would love to think that there are other parties sniffing around, be a shame if Borshoff got what he needs on the cheap.
Hope Vimy’s board are exploring all possible avenues. While DYL could always walk away, can’t think of any other options available to them that offers the upside of this merger, if anyone can I would be interested to hear.
Up for grabs: around 30mil cash, a permitted project in a great jurisdiction with NPV of Circa Au$ 600 mil and also a project in the NT on what is some of the best exploration ground in the world which already has an inferred resource of 26mil pounds at 12,900ppm U3O8?
First offer @ 1:3.74 currently implies a value of around 310mil, I feel any deal should only be done at a much lower ratio.
For comparison an explorer like AGE that is years behind Vimy with lower grade assets is currently valued around 300mil.
Makes you wonder what Vimy’s alligator river project would be worth as a stand-alone project if spun off as a separate company?
VMY Price at posting:
24.0¢ Sentiment: Hold Disclosure: Held
