Who will Buy Resolute’s 26% shareEverything points towards Adumbi being developed by Loncor whose costs will be carried by a new Corner post investor .
Kondradt and Resolute own about 51% so a single buyer would control the company.
Clearly, Resolute wants to monetize its investment in Adumbi,and Kondradt , who is dressing up Gentor for its new debut, also wants cash to fund ...in my opinion..the development of Loncor's non Adumbi assets which will be spun out to Loncor's shareholders, as a new public listing.
Loncor insiders, Kondradt and Resolute hold the future of Adumbi in their hands.
Once the PEA is announced ...within weeks maybe..we shall see a run up in the share price , as the two major shareholders seek a price that is commensurate with a significant portion of the NPV8.
I can't see that NPV being any less than $650 million US and could be higher than $900 million US.
$3 per share will cost the purchaser less than $165 million US....much much lower than even the scantiest PEA...for 51% control.
If I were a betting man, I would place Barrick at the top of that list ...