RE:RE:RE:RE:RE:Merger of Almonty / WOF I don't think a merger will happen, nor do I think they will propose one either........
Based upon the information from Ormonde's investigation, Almonty's mines are at the end of their life. This is the reason for Almonty's multiple attempts to aquire another mine over the past year. Secondly, seeing one CEO move from one company to another is normal, but (IMO) seeing the CEO and several board member move is unusual to say the least. This again IMO, is another sign that Almonty's mines are at End of Life. I am sure we will hear an announcement regarding Lewis Black's replacement at Almonty in the coming weeks.
Comments from Ormonde:
"Following its own examination of the publicly available information on Almonty, and of the reports received from the independent consultants, the Board has a number of concerns in respect of the reported reserves, projected mine life, negative net cashflows from operations, and existing debt profile of Almonty and its operations. The Board notes that, in the opinion of the authors of both independent reports, no technical or economic justification has been provided for the inclusion by Almonty of the tailings from its Los Santos Mine within the Los Santos Mineral Reserve Estimate, and that, therefore, these tailings should be removed from the Reserve Estimate. The removal of the tailings from Reserves would result in the remaining mine life at Los Santos falling from the 8 years reported by Almonty to a little over 2 years. Micon also considered Almonty’s other mine, Wolfram Camp, and noted that it has reported reserves for less than one year’s operations."