MINRES has $1,400M cash at bank, yes that $16M is only 1.1% of their current cash.
MINRES had up to $140M cash to buy LJ from us !
"MinRes FY23 Full Year Results Presentation - Transcription
29 Aug 2023 — EBITDA, quite respectable, good cash conversion. Finished the year with $1.4 billion in the bank. Net debt, about $1.9 billion..."
PAN sold Lanfranchi to BMM for $15M in 2018
Lanfranchi has NO MILL NO HG tenements like LJ has and it has 1 prior flooded mine
LJ has a 1.5MTpa MILL in remarkably good condition, larger tenements and 2 mines EA MH plus newly discovered WUU area plus AR new mine area.
EA alone had 14kt JORC worth $360M revenue in situ
Nova nearby has the same size MILL and same size mines and tenements valued to IGO at $4,500M but Nova is producing 20ktpa and still operating albeit with a few years LOM left unlike LJ, forget $16M.
How in heck did POS BOD value this for a paltry $16M cash?!
MINRES MCap went up 3.3% since this announcement ie thats a $439M increase in MCap!
Market thinks the deal is bad for POS and great for MINRES
The rich get richer and the poor get poorer.
CE & Bob will be laughing all the way to the bank with a new NI LI hub and large Nova size MILL to boot all for dirt cheap. They will make $3,000M from LJ imho & POS not even 1% of that, you will see.
Very much like the AGO deal I compared to us before.
But im glad AFAF BMM didnt get it.
A smashing slap backhander to them by POS BOD, MINRES & CE in revenge. thats what you get when you X around shorting churning SP to oblivion and backstab the LTH and BOD here.
I expect MINRES to be the big boy that funds and supports POS hereafter now and maybe eyeing off a bid for the lot also. This was a tester imho. POS has 11 years experience in LJ & Ni and MINRES has 0.
Market values LJ way more at $430M under MINRES than under POS at $1M, LOL.
Soon MINRES turns LJ into a Nova type hub worth $3,000M, you will see.
Soon MINRES will feel the guilt and weight of POS LTHs betrayal & step up to support POS imho.
Inevitable.
MINRES OWES POS BIGTIME imho !!
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Last
0.3¢ |
Change
-0.001(14.3%) |
Mkt cap ! $12.54M |
Open | High | Low | Value | Volume |
0.3¢ | 0.4¢ | 0.3¢ | $13.84K | 4.613M |
Buyers (Bids)
No. | Vol. | Price($) |
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110 | 64348762 | 0.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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0.4¢ | 52711233 | 29 |
View Market Depth
No. | Vol. | Price($) |
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110 | 64348762 | 0.003 |
31 | 59863052 | 0.002 |
22 | 92592753 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
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0.004 | 52411234 | 28 |
0.005 | 37590091 | 21 |
0.006 | 8998000 | 12 |
0.007 | 8518277 | 9 |
0.008 | 1800000 | 1 |
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