MNC 7.76% 53.5¢ merino & co. limited

Exactly Fiendish, I agree that this deal is good/great for MNC –...

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  1. 2,861 Posts.
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    Exactly Fiendish, I agree that this deal is good/great for MNC – that’s what I’m trying to tell some that don’t seem to understand the value of the deal.

    Re; dilution for Andes:

    Andes are basically paying $6m dilution for:
    - An ASX listing
    - Acquisition of MNC and its assets (Quinchia alone cost MNC $16.5m to acquire)

    So not a bad deal for Andes I’d say.

    Board/Management:
    Already changed not long ago but will be changed again with this merger, with Andes effectively controlling MNC via 2 out of 3 Directors on the Board, including the MD, as well as through ownership of a large portion of all the MNC issued capital via major holders like Sandfire and the Directors and other big Investors/Funds.

    BFS/DFS:
    MNC has already spent millions and millions to get to/complete a DFS for its Miraflores prospect – now needs to prove up some more gold for a longer mine life and better NPV - there’s at least 6Moz there to be proved up at Miraflores/Quinchia.

    And then there’s Andes’ tenements which are 8 times bigger than MNC’s, which the new MD keeps comparing to SolGold/Cascabel, AngloGold/Nuevo Chaquiro, Continental Gold/Buritica, Large Porphyry System.

    I’m quietly confident that the new team/company/structure/backers will turn the Company into something decent.

    I don’t think the likes of Sandfire and other big Investors/Funds on the register throw millions of dollars at a Company unless they see it going somewhere/plan to make it go somewhere.

    So, if MNC is good enough to back for these investors:

    - AngloGold (third-biggest gold producer in the world)

    - Sandfire (billion dollar ASX resource Company)

    - IFM Investors (Investment Fund with AUD$117 billion under management)

    - Treadstone Partners (Corporate Advisors for some big deals: IGO, SIR, EVN, GOR, DCN, etc)

    and good enough for Directors to throw millions of their cash into then it’s good enough for little ol' me.

    Cheers,

    GB.
    Last edited by Green Bull: 18/03/19
 
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