Generation Mining Ltd T.GENM

Is it 100% certain

[seriousinvest]

That sbsw must decide next week?

[oilsyd]

It is absolutely certain that if they want to exercise their right to own 51% of the project by paying only 31 % of the mine development, they must do so by Thursday.  If they say nothing, they are stuck at 20% with operational control going to GENM. Other options such as buying the mine outright or selling their stake in the mine continue regardless but buying in after the deadline could

[tarsands]

In response too Oilsyd, did you infer oilsyd that you might think. That they  will not want too share, and instead take us out. With a premium? Well it would be nice , now he says (Kerry in that video. About gold mine equivalancy. Where Kerry say its equivalent too a  300,000 ozs per annum mine with a 13 yr mine life as it stands now. I know he said it because man I still have a few

[Ivorygull]

tarsands....very interesting take, and while I didn't want to get bought out expecting it to be a low price, I'd certainly take that $10 per share

[Ivorygull]

tarsands, I have read a number of times on the web that a junior can get 10% of the value of the resourse. So I have broken down the value of each metal and then added up what the share price could be in $CAN...... Todays metal price Pd $2,742 using $2400, Cu $4.27 using $4.00, Au $2,286.09 using $2000, Pt $1,108 using $1000, Ag $32.38 using $30. Pd 4,190,000,000 ozs x $2400 = $10,056,000,000

[Rainyday]

Doesn't the $10 valuation for GENM shareholders drop in half if Sibanye backs in and owns 51%?

[oilsyd]

Tarsands, I am going to rephrase what I meant.  The cheapest way for Sibanye to get a greater piece of the pie is to pay upfront the 31% of the mine development and to confirm this by 22nd July. Any other option for Sibanye to get to 51% will be more expensive. Why? Because I cannot see management or the rest of us shareholders agreeing to sell our share for any less.  Once

[oilsyd]

No it does not, The costs needed to get the mine going for will be much lower for GENM if they have 51%.  Future revenue goes down by 37%, but initial mining costs go down much more.  Not sure what the value is though and don't care to estimate within just 3 working days of a Sibanye decision. GLTA Oilsyd