Orbis Gold: The SEMAFO offer wasn’t good enough

THE CONFERENCE CALLER: ROADHOUSE EXCLUSIVE While at Mining 2014, The Roadhouse was able to ambush Orbis Gold managing director Peter Spiers after he gave his presentation.

Spiers didn’t offer much lip service to the SEMAFO offer during his talk and wasn’t what you would describe as being overly keen on discussing it afterwards, except to say that Orbis had rejected the offer simply because it believes it to greatly undervalue the company.

Spiers pointed to the work the company had already completed at the Natougou gold project, which he said had only just scratched the surface of what the project had to offer.

Whether he expects SEMAFO to come back with a superior offer – he said that was entirely up them – if they are prepared to up the ante that would of course be looked at.

From his demeanour, The Roadhouse would suggest that offer would need to be very, very attractive.

If there are other suitors in the wings, Spiers kept his cards very close to his chest, saying a number of third parties were hovering, but again, whether they are prepared to speak in numbers Orbis may consider to be near the mark – only time will tell.

Website: www.orbisgold.com