Comment by Countrygenton Sep 30, 2024 1:52pm

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Post# 36247086
RE:RE:RE:RE:RE:RE:RE:Buy HCU at 25% discount to ETG
RE:RE:RE:RE:RE:RE:RE:Buy HCU at 25% discount to ETGLumpy I believe at the time Nolan Watson was saying SSL was being valued by the market as a gold streamer, by projected ounces. And they were considering trying to find a consolidation partner to raise their market cap and make the combined entity more liquid and attractive to larger institutions. So taking back a gold stream and dumping the ETG equity to be liquidated eventually (or held as a copper streamer if no buyout fair offer forthcoming) let SSL set the table to monetize ETG. They will be repaid the $181 million debenture HCU gave them eventually -maybe sooner rather than later. And SSL shareholders were welcome to buy into HCU, or, basically the market ignored the asset of ETG equity being shed at about a $40 million value. Already appreciated by implied market trading value (slim volumes footnote to that) by $70 million to HCU? When ETG gets taken out at the kind of premium Nolan was talking about when he told Daniela Cambone at one of the big mining shows years ago he thought the SSL buy-in to ETG would go down in history as "one of the greatest mining deals ever made", HCU could have Antimina and Hod Maden and no debt. HCU could be another huge runner for the patient. And I'm a fan for leverage to gold to get some SSL - the table setting has been methodical, patient, has not been appreciated by the market, but could pay off very well. But, ETG first please!
cg