Hi Cosmeterios,
Personally, I think the answer to this question is pretty clear.
Klaus sold for let's just call it an average of $0.15. At this price, fully diluted Mcap will be in excess of $300m. $300m is clearly overvalued based on where AVZ is currently. Let's think about it:
-only 7 holes drilled
-no met results
-no JORC
-sovereign risk DRC
-AVZ doesn't have 100% ownership
If I were him - I would be selling too.
I personally find it funny how people are thinking that the spruiker can travel to China and ask smart Chinese people to pay 20c-30c (yes, that is $400m - $600m) for a 60% stake (essentially valuing the project at $1b, when all that has been done is drilling of 7 holes with nothing proven.
I think people have to get real. This project will not sell at this stage for anything close to $250m, let alone $400-$600m. Klaus is smart to sell when he could. Simple as that.
This is purely my opinion. Just calling it as I see it since you asked.
GL anyways.
Why the rush to sell AVZ assets?, page-2
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