Just taken a position
It seems gold juniors are all bombed out at the moment, but wow is it quiet around here!
This company does remind me a bit of Cardinal resources with Namdini which I owned a little while ago. Not quite as large and lower grade, but Namdini had met issues which I'm not entirely convinced they solved, which I beleive is why only Nord and Shandong bid for it in the end. If they could boost the overall resource with satellite pits, IMO this asset is of equal value to Namdini, and lower risk too. Add in a team that has done it all before, and I can't beleive that the valuation will stay this low for too much longer.
Catalysts I'm looking for are the DFS followed by permits. It was only after permits were granted that bidding started for Namdini and the price almost tripled from there. If MAU opt to go it alone, financing is obviously a catalyst, and I'd be interested to see how that was structured. Streaming/debt, hopeully not too much equity required!