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RE:BCL acquisition

[FrozenInOntario]

This is getting closer to closing.  As per their release, this should be done before year end or quite shortly afterward.
Note that the company has stayed quite quiet about this.  Expect this to change when the deal closes.    It is also quite interesting that the CEO will be awarded a huge chunk of options (5 millions) at .40  at the shareholder meeting coming in the next 2 weeks.    0.40 was a fair price.  This is done to align his interest with the company.

So how much is their 25% ownersip worth ?   The BCL mine was producing 40 000 tons of copper/nickel at its peak before the low commodity price and smelter problems got them in bankruptcy.   Was basically a state owned operations, you can picture it.   Will cost 400 millions USD to get back in production or something like this per an article I read in the Mining Journal.   Do not expect that the tag price will be quite high, governement wants it back into production for the mining jobs.
So, how much is worth for NAN ?  NAN has roughly 160 000 000 fully diluted shares included options and warrants as of septembre 30.    Make it 165 000 000 with the CEO options.   So right now the market value the company at what 85 - 90 millions CDN.
So assuming Greenland, Northern Ontario as well as Morocco has no value, this would mean that the market assumes a value of say 360 millions CND to the projet.

Is it worth this ?   Or way more if they get this back into operations ?   The beauty of it, when you think about it, is that a big bunch of the risk factors with a new mine are inexistant as this is a restart.

Not surprised that the company is keeping mum on the project or almost mum.  But I would assume that with the current major shareholders (Sentient) and the Chinese shareholders, access to capital should not be a problem.

And the CEO has sold 2 of his previous ventures.

Not too bad a the beginning of a super cycle in Copper and Nickle.

GLTA