RE:RE:RE:RE:RE:RE:MET.LonghandStrong wrote:
just a guess, but I don't think we will see more Flow through (to drilling) financing until the deep pockets can see a bit of KK putting his money where his mouth is viz a buck an ounce. Typically IME financing tranches come with some conditions and stage 2 this year will probably be based on some success with the first 9 mill. That is of course if they have someone, it was strange that what I interpreted as a steal of a deal was given to tuo. Good for tuo, but was it a) heavily subscribed, tuo got the nod because they are insider and no desire for another chef in the kitchen at tud? If so heavily subscribed, then why the IMO low per unit offering closed? B) heavily subscribed and tuo got the deal because they made the best offer? And if that was the best offer, what do they know, that we don't soecific to valuation, cause IMO the PPS on the PP was south of the amateur FMV calls all three boards all winter. C) poorly subscribed, tuo was one of just a couple looking to buck up, so buy side had the leverage? D) not subscribed, and TUO was the only one with $, so jumped on the grenade to save the whole platoon (the season). Can anyone think of any other scenarios? Based on your opinion on scenario, what does that mean for the second (required if we are to get 60,000 meters of drilling) round if financing? The boards were pretty quiet on the last PP, all very obladi oblada, life goes on zen. Was surprised at the lack of discussion and opinion other than yee-haa, we have a season (start)
lol if Mr. Konkin needed to demonstrate $1/oz. to find additional gold, he can easily do that with the first several holes since he already knows where the higher grades are to be drilled this year to add to the M&I number.
As far as the A, B, C, and D scenarios, my opinion is none of the above. From what I can tell, the Canadian regulators appear to be changing their posture with respect to investments by one junior exploration company in another. When Skeena was allowed to invest $3 million into Questex a couple of months ago, it caught my eye because I had not noticed that type of transaction previously with juniors - many transactions where major miners or investors like Mr. Sprott take a position, but not juniors. Many options of properties between juniors for stock, etc, but not outright purchases of a material stake. Eskay buying 20% of Garibaldi from Mr. Sprott was another unique transaction. Scottie and Auramex. Things are moving quickly this year.
Then within 60 days Teuton comes in with a $9.6 million investment in Tudor. It appears to me that Dino was perhaps quick to respond to a change in the regulatory environment and had a good place to invest. Good for him. As for Tudor, I expect they were glad to get the money from a friendly source and not a group of retail investors with weak hands during a difficult overall stock market like we're seeing now.
Tudor got a good price for those shares - market price for the NFT shares, 20% premium for the FT shares - I've seen much worse deals than that in the past year. Also no warrants - that's actually pretty rare. Good deal for Tudor, and Teuton gets another 3 million shares before any runup based on this year's drill results.
Tudor now can do additional PP activity for a smaller amount whenever it wants to. Again, no problem finding the funding, just don't know if a major will try to get in now, or if Tudor will even allow any major players in the door for a partial stake when that might turn off several other potential bidders later.
Actually, the more I see with the price of copper lately, the more I look at Seabridge with its 50 billion lbs. of Cu (in all categories) as grossly undervalued. If copper hits $5 USD, that's a quarter of a Trillion dollars of copper in KSM and Snowfield, on top of 100 million oz. of gold at $1800, 750 million oz. of Ag and some moly on top of that. This all adds up to $450 Billion in mineral value and the market cap of Seabridge is still less than $1.4 billion USD. At these prices for copper, who even cares if the tunnel will cost $5 or $10 billion? Or if it takes $3 Billion to acquire the Three Amigos to get the tunnel route and Goldstorm? With the prices of gold miner stocks moving higher, the cost would be even easier to deal with by doing the takeovers with shares. This commodity inflation can only go so far before the mining sector reacts. That's a wild card that could be played at any time now.
Do your own DD. GLTA.