Gascoyne is running out of oxides for its mill and its grades
are very low.
So it recently proposed a merger with Firefox for its 196,500 ounces of
gold resources at 1.45 gms per ton.
It states the proforma enterprice value of $159 m subsequent to the
acquisition, which at 32 .8 % implies about $51 m for
Firfoxes 196,500 ounces of Indicated resource.
Thats pretty rich at $260 per ounce of gold in the ground.
But Gascoyne has to have higher grade ore to make it very ;profitable.
Today, I notice that Gascoyne received an unsolicited takeover offer
which it rejected.
Gascoyne i a former merger candidate with Monument.
So, with limited new discoveries of shallow oxides of decent grades,
Monument is well placed with its 550,000 ounces @2.05 gms per ton
https://hotcopper.com.au/threads/ann-gascoyne-and-firefly-agree-to-merger.6112580/
https://stockhouse.com/companies/bullboard?symbol=v.mmy&postid=33754326
Recent SH interview with Monument CEO
https://www.monumentmining.com/site/assets/files/4261/061721-v-mmy_editoral.pdf
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=165005827
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