 12/12/2020
-- 93% of the land within the permitted La India open pit mine site infrastructure area has been purchased
31/3/2021
-- Acquired ...a total of 95%... of the land within the permitted La India open pit mine site infrastructure, including the key areas of the location of the processing plant, tailings storage facility, open pit, waste dump area, explosive magazine.
11/8/2021
The Project has been significantly de-risked by the purchase of 97% of the land
29/3/2022
-- Under the terms of the EP, the Company has to purchase or have legal agreements in place for the land required for the mine site infrastructure. Offers have been made to all land owners. The Company has now purchased 98% of the land in and around the permitted La India open pit mine site area and is close to completing one of the main conditions of the EP and significantly de-risking the Project.
16/8/2022
-- Continued with acquisitions of land at the La India open pit and associated mine site infrastructure. To date, 99.6% of the core areas have been purchased.
27/9/2024
Land acquisition continued at the La India open pit and associated mine site infrastructure. To date, 99.6% of the core areas have been purchased. |
They may have leaked the highest offer, Without mentioning the conditions attached.
the reaching of 99.4% may be, in principle subject to further conditions, Who knows
I know:
- there are no negotiations
-The government is kicking out miners all along the country for environmental excuses, that could work for cnr |
We all only know the same numbers, the press are saying £90m from MTL and that is all we have to go on until they formally announce their binding offer, right now I'd take that. If it gets higher that's great but I'm content to vacate CNR at £90m valuation. I don't care about the land, it isn't an issue for me. |
It's clear from previous RNSs that the land is required. This is from two months ago, 27 Sept
Land acquisition continued at the La India open pit and associated mine site infrastructure. To date, 99.6% of the core areas have been purchased.
This is from two years earlier, 16 Aug 2022
-- Continued with acquisitions of land at the La India open pit and associated mine site infrastructure. To date, 99.6% of the core areas have been purchased.
Clearly it's untrue that "Land acquisition continued" during the period covered by the first quotation. I'm not going back further, I have no idea when they reached 99.6%. |
:)
Unfortunately, it is; why?
Because the buyers are very likely offering very different prices depending on the resolution, call it $50 million (without progress), $90 million (we buy la India 100%), or even 120million if we get la Mestiza (without land exchange)
do you know the bidding offers? |
book5, I think the land to which you refer is not an issue to the current parties expressing interest. If it was they would not be interested. I think it is time to let that thought go. |
The Sunday „leak“ statement on the CNR homepage regarding the Sky News stuff just shows one thing: Total despair
I wonder who is behind the Sky News stuff.
Probably one of Jim’s flat earthers
Honi soit qui mal y pense. |
No land, no mining. Buyers will face similar problems to CNR.
Judging by the price action, Calibre probably submitted a lowball offer around 20, and perhaps some hope it will be increased to 30p if we are lucky
Metals are out of their comfort zone; unlucky buyer
Gla |
Farrugia " that leaves metals exploration who raised a miserly 5 million for the 'acquisition'"
You're ignoring the cash MTL already have. They're making money hand over fist at the moment. |
Warty Buffoon |
lol comparing Mellon to Buffett - they are a different breed altogether. Mellon seems to use his 'companies' to extract money from them in various ways - lending them money at high interest rates, consultancy services, shielding himself from taxes..etc |
....."Likewise, Mellon is one of the richest people in Britain. His fortune is estimated at £850 million and he has been described as Britain’s Warren Buffett."
Perhaps Barren Wuffett......... |
So Calibre has basically said - no offer and no engagement - don't intend to make an offer.
that leaves metals exploration who raised a miserly 5 million for the 'acquisition'
Condor gold already valued at 56.94M - can't see metals paying much in $$$. More likely some kind of share deal. |
At Q3 update, MTL had $11m cash and were cashflowing about $9m a month. So they currently hold maybe $30m + the $7m bridging loan which is repayable end of January. That's enough for maybe £25m up front cash payment? If Sky news is right about a £150m enlarged group, they are offering £50m in paper. And if the deal as rumoured totals £90m then there would also be a £15m deferred cash payment. |
Congratulations, Oldie. |
I bet the vast majority pressed „buy“ this morning whereas I pressed „sell“
Thank you guys, you are my biggest asset :-))) |
oldie... If you had cried less and bought more, you could have made 50% profit in a short time.
and that's a fact and not stupid oldie babble.... |
OG must be regretting it as well. |
£90 million would be very good indeed
Almost Everyone would be in profit
But is non bidding |
Maybe there's a profit to be made today but Jim Mellon is a snake and I'm not chancing it.
Come to think of it, probably CNR leaked the news in order to push the share price up. I think they're underestimating Nick C. |
A little disappointing that MTL didn't deny all knowledge. I don't know how much cash they have on hand, but the £5.5m loan facility they've taken out would cover just over 2p a share for CNR. |
I remember a while back there was this frequent poster here, think he was in the insurance game, and he panic sold in the teens.
He'll be regretting that now. |
The loan facility part of the Metals announcement is encouraging in that it suggests a cash element at the very least. The Calibre announcement does beg some questions though. |
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