RE:RE:RE:RE:Mr market is enthusiastic about the dealNo . Toro will never match segovia.
Segovia : if of course if , but this very probable , the plant goes to 2000t , it means ( at constant grade ) 260/ 270 koz a y . With aisc around 1000.
Toro : we have only pea , and not pfs. Gcm is going to spend 265 mil for the land + 378 mil usd (or 272 with wpm ) for less than 200 koz.
Remember an other thing . Matysek has been hired to add shareholder value . The last gold project he sold was the lindero to fortuna silver fsm . At the end the plant has cost nearly 50% more than forecasted and 1 y more in time. What i want to point out here , is the surprise is always bad in mining. Lindero ( a pure easy oxide spot) was sold less than 100 mil , for a little 3 mil oz. So i don't see toro as a real bargain. I think the metallurgical side is more complexe at toro.
By adding toro to gcm ( if developped) you decrease the value of gcm because segovia is far more superior .
From an investment pt of view , you can't match the future of segovia. That makes me furious.
It could also be poker game. A big risk at the expenses of shareholders .
Now i do not pretend having the truth. But the pos is speaking loudly.