RE:Aris PlanI have often mused about Aris buying Soma out. After all, Ian Telfer loves to deal, acquire and merge. Soma's southern end of their property is 20 km (12 miles ) north of the Segovia property. Both mines on on the same trend and mining high grade gold. Aris would get 36k ounces of Gold production for 2023 with an expanding production profile, at an AISC of US$890. Cash flow generation could add another C$35 million in 2023. Soma's resources are 404,000 ounces, which is not terribly attractive but Aris is awash in Gold resources now.
Soma insiders own 71% of the company, many self funded the operation and likely wouldn't give it away for a song. The stock has potential of tripling in 2023 to catch up with peers. If Aris acts quickly, they could easily assume Soma's C$24 million in debt and offer 8 Soma Shares for 1 Aris. That would mean issuing 11.4 million shares. With a share price of C$4.00, the deal would be worth a total cost to Aris of (C$46 million + C$24 million) = C$70 million (US $52 million). The offering of C$46 million would be C$0.50 or a premium of 56%. The total acquisition cost would be US $129 per Gold resource ounce.
I'm not a financial analyst, but from my eye ball, Soma Gold could be a accreditive, tasty little snack for Aris.