Sunday, 26 April 2015

Junior Gold M&A - Novacopper buy Sunward.

Some big names, Thomas Kaplan's Electrum, John Paulson, and Seth Klarman's Baupost have been significant holders of Sunward, trading below their high $20m cash (no debt).
Sunward hold a very large scale (global top 3%) low grade (0.53g au) Gold-copper deposit, Titiribi, in Colombia which has yet to see an economic study, but would presumably be a project requiring a much higher real gold price and then be highly leveraged to the 10m oz + gold (mostly inferred) &  800m lb copper.
NovaCopper have many of the same holders. The acquistion appears to look to apply Sunward's cash to advance NovaCopper's Alaskan copper deposits. 


  1. You should change that to Colombia before Otto finds out.

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