TSXV:TVC.H - Post by User
Comment by
nickbillfishon Jan 02, 2023 12:17pm
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Post# 35199614
RE:We have a shell
RE:We have a shellThis should play out in the coming weeks. We have more than a shell. The filing of the voluntary bankruptcy brings this to a head and forces an auction of the MTV asset. I'm optimistic the auction will sell MTV parts for over US$100M leaving TVC shareholders something.
After all you have a newly completed block caving mine in Pompamono with 85% proven reserves at 101 Million pounds at a grade of 1.51%. Plus over US$300 Million had been spent on this project since Vale started on it decades ago. I'm guessing it will auction in the low $100 M range which is still a fraction. It was an operating mine, has a cathode plant and a workforce nearby ready to engage that was recently laid off. My guess is they may tie in TVC since a large portion of the operating losses reside here. Not a rocket ship but still worth more then C$0.025/ share.
Hopefully the entity who is overseeing the liquidation will be announced in the coming weeks. Several scenarios could play out, but China reopening and copper approaching $4 will help.