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12:21
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Originally posted by Lowkeyinvestor:
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I posted this last night on Conico forum. I have a suspicion that the Scoping study is complete and has overcome the issue with the forward looking statement, all that is needed now is for the JV partners to send it back to the ASX for announcement. So why would they not send it back to the ASX for release to the market. Think about this. (1) Greenstone is in merger mode for about 3.6 Greenstone shares for one Horizon share and currently that values Greenstone at about $0.008 per share. (2) Conico is in a dilutive CR with a share consolidation to $0.01 to happen as the raise is underwritten by you know how (GLP) I think (sorry if wrong). So putting this suspicion together. (1) If the scoping study is released and is NPV in excess of $500 million as required by Greenstone directors performance rights milestone then the share price of Greenstone may put pressure on the merger share ratio of 0.2868 Greenstone shares for 1 Horizon share. Think about that for a moment, so if the Greenstone SP valuation increases the merger is in the can. (2) In Conicos case and in my opinion not many current shareholders will take up the underwritten offer and this is expected by management and the shortfall will be offered at a premium when the scoping study positive NPV is pumped after the Greenstone / Horizon merger is approved by Greenstone shareholders. Just a thought and having a VB.
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That’s one way of looking at it and another way is the SS will show with all the data they have at the moment, Mt Thirsty is an unviable option. Poor grades and low prices.
