There's an old business adage: "Never underestimate the greed of the other guy" and IMO that is probably playing out right now between LNY & Maroon:
-Maroon has what LNY wants ( an efficient gold processing plant within cooey of Agate Creek
-LNY has what Maroon wants (readily mineable good grade ore within cooey of the Black Jack plant)
Maroon are gold spcialists
LNY are M&A specialists.
At present there's a Mexican Stand Off imo: both parties need lollies now and the current contract benefits both.
IMO, here are some options:
(a) LNY offers $27 mil for Black Jack ( a $10 mil profit for Maroon + its profit on the processing deal YTD)
(b) Maroon makes a pitch for LNY at say 2c/share which would give Maroon a back door listing on the ASX worth an extra $4 mil, IMO.
(c) a follow-on processing contract (tweeked based on current contract experience)
(d) LNY sits tight on its lollies post August, drills the ring out of Agate Creek & either commissions a new plant or flogs the resource to a 3rd party
(d) Maroon plays hard ball on any follow-on contract with the intention of making option (b) cheaper.
(e) A friendly merger of LNY & Maroon which, IMO would have synergies.
I'm sure that there are other scenarios?
What do others think?
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