TBH, in the short/medium term I’ve soured on the idea of a TO. A couple of years ago when the POG was less, we hadn’t defined as many ounces, and there was more risk associated with the project, I would have been for it. However, after waiting so long…I’m prepared to wait longer.
I understand we wouldn’t be comparing apples with apples as they say, but how much was paid for Penny West by RMS? $200m about? Well the POG in $au must be 50% higher now, and we have how much more gold? 8-10 times as much? And our MC is only 40% of that?? There’s some crazy figures you could work out to see our discount to that Spectrum buy by RMS.
Youanmi has been mined before, we have an airstrip, a camp, infrastructure, permitting…it’s not like we’re some wildcat driller that’s just hit a vein out of the blue in no man’s land…. I think the hurdles to mining, especially if the current POG gets gold miners like RXL fast tracking, shouldn’t be so hard to clear.
Right now I’d be voting no to a TO.
GLTH
RXL Price at posting:
22.5¢ Sentiment: Buy Disclosure: Held
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