LJ - a Jewel in the Crown, page-84

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 !!