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.
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Last
53.5¢ |
Change
-0.045(7.76%) |
Mkt cap ! n/a |
Open | High | Low | Value | Volume |
58.5¢ | 62.0¢ | 52.0¢ | $84.57K | 155.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 768 | 52.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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54.0¢ | 2000 | 2 |
View Market Depth
No. | Vol. | Price($) |
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34 | 53235098 | 0.002 |
19 | 90400994 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.003 | 22098160 | 16 |
0.004 | 18093149 | 12 |
0.005 | 11587725 | 4 |
0.006 | 3392001 | 3 |
0.007 | 2980000 | 4 |
Last trade - 15.56pm 15/11/2024 (20 minute delay) ? |
MNC (ASX) Chart |