“Post-sale we would consider a return to shareholders,” was about all Joyce would say when contacted by MNN this week.
The market too is a bit cautious judging by Birimian’s market capitalisation, which to-date has remained well below the $107.5 million value of the deal.
While it is typically a quiet period for the market, investors evidently want to see the money from the “binding letter of intent” before getting too excited.
And payment of the non-refundable $10.75 million deposit could be a trigger.
When that might happen isn’t clear.
Meanwhile, assuming the deal does happen, Birimian’s future direction in the resources sector is very much a blank canvas.
In November, Birimian granted Randgold Resources a six-month option over its Massigui gold project near the Morila gold mine operated by Randgold on behalf of a joint venture involving Anglogold Ashanti and the Republic of Mali.
The option covers three gold discoveries made by Birimian at Massigui, though it does not cover another 740 square kilometres of exploration ground that is retained by the junior.
