RE:RE:just wonderingWhat did NSU management really do?
Nothing earth shattering if I really think about it.
Who can we thank for Timok? THAT WOULD BE PREVIOUS MANAGEMENT NOT CURRENT MANAGEMENT. PREVIOUS MANAGEMENT WHO WAS OFTEN DESPISED THAT'S WHO WE HAVE TO THANK FOR TIMOK. The wheels for value creation were in motion well before this current management.
Proving up an already existing resource could have been done by any competent management IMO.
They significantly curtailed the value of Bisha by reducing the mine life when clearly that was not the case. THE MINE LIFE THERE WILL LIKELY CONTINUE WELL BEYOND THREE YEARS, WELL BEYOND SIX YEARS and then some. This may in part have been politically motivated but in the end NSU remained severely undervalued. It was only with the Lundin offer and the subsequent Zijin offer that there has been an acknowledgement of the value that was ALWAYS there but not being given it's due. And do you think these companies go out and buy stuff if they think it is not going to be accretive to their business? In our case our current management is serving FREE growth on a platter, so much so that is sickens me. AND despite me questioning things I've seen nothing really in support of CAD $6 except for the fact that it is higher than $4.75 (the typical "we all know the price of everything but the value of nothing" applies).
They solved some metallurgical issues there...again most any competent miner should be able to solve and/or source the proper resources to deal with the problems.
And now they're severely selling us short on the buyout.
FIND something at Bisha or Timok and then I might speak a different tune. Have they found anything else?
So I would put NSU management as AVERAGE AT BEST...nothing more...in the 70% area if I had to grade them.
SignorAnderson wrote: Are you asking if you would trust NSU management in future endeavours / businesses as an investor?
Assuming the buyout by Zijin goes through then NSU will cease to exist correct?
If you're asking about management, this latest total acceptance of the Zijin offer is a farce IMO as we stand to forego significant value from all angles...the upper zone, the lower zone, Bisha, and exploration potential.
They made a strong case against Lundin but then say okay to CAD $6 with sparsely a word?
I say dissent and dissent strongly.
They are selling us short, of that I am convinced and the reasoning is specious at best IMO. I refer to the conference call regarding the Zijin offer...it left me as a big nothing burger. Yes of course it's better than CAD $4.75 per share but it still undervalues NSU on the order of 25%++ or more in the here and now based on CURRENT information.
If the lower zone ends up being economic and/or highly economic then we will be foregoing a huge amount of value creation...double of what we're getting now.
If Zijin wanted to pay $6 then fine...you get the upper zone and Bisha thrown in for free.
BUT NO, we through in the lower zone for free as well? THIS IS A FARCE and I've come across NOTHING to make think differently.
continuity1 wrote: Has anyone given much thought to Nevsun after the keys have been turned over and the new owners move in? How much of the outcome was scripted in 2016? Would you or will you play with them again if the opportunity presents? Just wondering.