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  • contraryopinion contraryopinion Sep 27, 2010 2:44 PM Flag

    Potential targets

    So does anybody have any ideas of what potential targets may be for the warchest of cash EDV has? What gold mining companies are under performing, running out of cash and have high cash mining costs?

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    • melissak87 Apr 15, 2011 7:54 PM Flag

      Century Mining (CMM.V) should be a potential target of Endeavor Mining.

      CMM is set to produce 90,000 oz of gold this year. They have 2 producing mines in Quebec. Their market caps only $150M.

      Endeavor Mining could buy them and become a 180,000 opy producer and have no debt. The Century Mining shareholders would approve the deal because they don't like the White Tiger deal on the table right now.

      • 2 Replies to melissak87
      • First and foremost I feel sick for.
        If you make a deal with the devil, you are the junior partner
        When you make a deal with Finsky you are lucky if you are the janitor as he is the junior partner to Mikhail Prokhorov and Gazprom

        If you don't like the 13.5 million break...than you will hate this even more
        Investor / Buyer
        White Tiger Gold Ltd.
        Endeavour Mining Corporation
        GC Global Capital Corp
        RAB Capital Plc
        RAB Special Situations Company Limited
        Wega Mining ASA
        Financial Advisor
        Blair Franklin Capital Partners Inc.

        dickdigby news? try nightmare! Putting Etruscan's dismal CEO at the helm of your rare earth....while stacking the team of another
        Still sitting on cash and a hedgebook til 2014 @ $700 is worse than watching all companies they could have bought cost them double.

        Long-Term Sentiment Disclosure
        I do not own this stock but still hold many of their direct positions and stocks mentioned above and respect Endeavour Russian Partnerships.
        John Helmer dances with bears and I dance to Boney M's Rasputin
        He must love vodka as much as I as he forgot to add my Lundin Forest into the value of the White Tiger
        No clue as to how Intergeo plans to spin on the TSX scene but do know I personally would have no problem if they pounced like a ruthless tiger on those Energoinvest debt holders.

      • check the website for news

    • I am voting for Vista Gold (VGZ). The have a market cap of 125 mil which Endeavour can pay a 50% premium and only result in a 33% dilution. They have the Mt. Todd project in Australia which bankrupted Perseus Mining because the economics didn't work. Gold prices have quadrupled and natural gas prices have halved since then. A 70% recovery can be expected (rather than the 85% that was predicted.) There already is infrastructure in place including a tailings dam.

      However, there may be a competing bid from Argonaut (AR.TO) because Vista has a mine in progress in Baja Mexico which is adjacent to Pediment's planned mine. (Pediment is being acquired by Argonaut.) I eventually see an amalgamation of Endeavour, Argonaut, Pediment, and Vista because the combined entity could see 250,000 oz by 2013 and be gold focused (rather than depend on a lot of copper) It would also give the Argonaut guys a shot at developing a big mine, which may be Brisas or Crystallex if Chavez and his socialist agenda met his deserved fate.

      (I am long on and VGZ, however I hedged the VGZ by selling 2.50 calls.)

    • Oh if they were just normal that would be ideal but they spin think dilute and donate and that does not qualify.
      Can not own because it is a thinking mans stock and I like the no brainers in commodities

      I often think they are just hanging out waiting for those lawsuits to go away before they add value as this is about as unsettling as finding a property.

      then I think maybe they are buying up ADAMUS RESOURCES LIMITED
      Then I think Medoro still has a whack of Africa they should spin out Ouagadou and all other pieces they have no intentions of doing anything with
      Then I think why is Lundin banking Sunward because endeavour is lazy
      Worst case they pay too much best case they run right thru something like PANEX RESOURCES to get what they want to get.

      nightmare they restructured to be bought out with a parachute

      Could learn a thing or eight from Lundin cut and dry agreements ...people sleep better

      Long-Term Sentiment Disclosure
      too much aspirin too own but do not miss the core holding headaches

    • The logical one that comes to mind is African gold producer Avion Resources AVR on potential cost synergies but personally I think the company would better serve investors by lowering its country risks.

      All of the the producers that had mining dilution problems like JAG is too big for them and CMM and BRD now have enough money.

      Nord Resources in Arizona would be a super cheap acquisition. It probably would yield a total 2000% return on investment over the life of the mine at current prices assuming success in ramping up. The company is a copper producer in violation of covenants who has had troubles ramping up production.

      The question with that potential acquisition is how much copper can a gold producer fit in a portfolio without affecting it as a gold producer.

      Peruvian based AAG.v also represents good long term value as its market cap is about 115 million CDN but it would require some additional detailed research on its project under evaluation and additional future drilling delineation on its large project. The company had a setback as they had to recomplete their bankable feasibility study on one project which originally showed the project having an IRR well over 100% with 68 million in capex and 250 million USD NPV discounted at 8% and the project generated negative cash costs after byproduct credits at $1000/oz Au.

      Their other project is rather large with 3.7 mil oz of Au, 92 million oz of Ag and over 3 billion LBS of Cu of inferred resources.

      • 1 Reply to scow_sailor1692
      • Avion Resources logical buyer would be Pala and not Endeavour as it is already ran by not one but 2 investment banks Forbes and Aberdeen.
        Avion is Stan Bharti's .... no they do not share nor would any endeavour investor want to share.

        Nord they would have to get from Beaty...perhaps and yes it is cheap.

        Uncertainty is one of my reasons for not owning.
        My gut thinks it will be Colombia and they will spin out Africa and Rusoro to the Russians... but this is gut not fact.

        Long-Term Sentiment Disclosure
        I own avion and was happy to see who backed Sunward which is just one more reason I see Colombian target

    • Long-Term Sentiment Disclosure
      No position in endeavour or endeavour warrants...but if Frank Giustra had a fan club I would be a member:)
      Some of the companies mentioned above I owned or presently own
      off the top of my head with no calculator involved the only 2 still cheap would be
      AXMIN INC.
      (CDNX: AXM.V)
      and the warrants of GRAN COLOMBIA GOLD CORP
      (CDNX: GCM.V)

      Everything is my personal opinion...not based on fact just my version which includes a whack of speculation.
      Yes I still own Crew Gold

    • Gold Reserve is a troubled company, but the Brisas mine in Venezeula is not operating so all you are buying is reserves.

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