Maybe few years yet though... but 20p in mcap terms isn't huge
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Not gonna lie, 15p would make me drool at this point as well. I'd do the same, but I really want to see 19p once the decent news drops..... just gotta balance expectation with reality
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Outcome really depends on appetite of 3rd parties and whether they want control.
I’d suggest to just keep open mind and not get attached to any particular outcome.
There a lot of upside at pitombieras as Neil highlights.
On the other hand we’ve only spent circa $500k exploring it. Turning a big profit then trying to replicate that when we’re in a much stronger financial position has its own appeals
Jangada cash and investments are worth the amount a 1.5p Jangada share price covers.
10% of pitombieras project NPV works out at circa 3p Jangada share price.
As such case could be made even a distressed sale covers current SP.
Downside one would think/hope is minimal.
A deal at the levels seen at marl or ARS of 50%-70% would be nearer 16p-22p.
CB - best we can do is look at what was offered for other projects comparable to their NPV.
I’ve shared above 2 examples before of a buy out and farm in.
As you have to think the amount of cash they need to raise to extract that value. Or give away via JV
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I think 50million has to be the minimum target. NPV is 100million with drilled resources open along strike, plus an additional 5 or 6 to explore... id hope a negotiation would go higher on that basis.
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If the shove price higher they’ll have to pay more to cover
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I wouldnt sell at 10p but could see why buyers now would. My average is 6.3p
I have hopes of this hitting 20p long term
Take my cash and plug it into the many other undervalued opportunities
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Yeh no rush for me. I'm happy with the finances and in some part the team in place.
Huge upside from these levels. I think the 10p area was not really reflective of the resource and stage compared to a lot of others I am in.
When I look at acp communication and progress perspective is easier to find
If you want to consider against a distressed asset sale then AMC might be good example.
Their asset is in Russia. Obviously a much trickier territory now. They still managed to obtain an offer of over 10% if the project NPV. That’s on an unattractive IRR of just 15% as well
18million to get it to production (currently).... in a couple of years time it's a money printing machine.... for someone
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I’d be surprised if they didn’t bite someone’s hand off for &50m. I certainly would
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How much would a company be willing to pay for asset sale you think?
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Buys paying over or FOK orders will force their hand tho
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It’s in their interest to bid for stock here without pushing price up
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