Post by
tony1969 on Mar 12, 2012 7:09pm
MUCH awaited good news....
Pretty clear release for a change. Basically confirming the project gets a go from the government. Now we wait for the election to be finalized so the existing or new government can sign off on it. Once the election gets settled, the real dealing begins. The release states that they are having discussions with VARIOUS parties. To me that means at least three and is the most telling part of the release. In the Dec 7th release they said that they were having discussions that could lead to an acquisition. They never mentioned that they were having them with various parties. They will release their financials soon (April) because their year ended Feb 29th. They will probably show about 3 to 4 million dollars being that they had 5.5 million on Dec 31st. That can hold them past mid year and take a little pressure off of Chet as far as time for reviewing options. My guess on a deal would be May and definitely no later than June. All in all a very positive press release.
Comment by
adit123 on Mar 12, 2012 8:40pm
Nothing stopping OLE from doing a smallish placement to fund the business. I sure would not time any aquisition based on them running low on cash. In fact, we would not want them to feel that pressure and take a subpar offer.
Comment by
tony1969 on Mar 13, 2012 6:44am
You are right Run. I have been saying for a while that those old presentation numbers are outdated. Using new ounce numbers and just a little higher price on gold than the $1200 they based their calculations on will give you a much higher NPV. I believe that one of the latest Mackie reports had the project NPV at almost $500 million. Good point Run.