RE:And the winner is....Myrtles,
- Agreed with you that it was insanity or an act of desperation that EO issued that "notice of intention to ditch 3 of the BoD members". The mother lode could be around the corner, just below Triangle, but EO must go deep in the1000m range, the chicken scratch on the suface won't do and he would need another 3 years at least and lots of money to do it. Investor may need to wait for another 8 years (I got no patience left).
- I don't see that ES is on board with EO, since this billionaire is looking for some sizable gain, not just a few $M. He has some 33Ms@0.06 and the same in wts@0.09. He spent $2M already and for another $3M (wt exercise) he will have some 66M shares (~13.5% control). At $0.20/s he would pocket $13.2M for a gain of 13.2 - 5 = $8M. A 160% gain is not bad, but may be he wants more money than that. Or is it the control so he could get something better? Billionaires may think differently, presumably.
At this stage of the game, the share count is irrelevant. It's just the total amount of money influential people want to pay for a company. The rest is simple math.
GH
-----------------------
Myrtlesman wrote: With all the near surface gold that AZX has been counting, I think EO feels as if the mother lode is around the next corner. Don't forget that the Val d'Or area has been very prolific. He probably thinks that AZX is just now getting some legs after all of his hard work and he wants to get paid (can't blame him). For a geologist, he's done a decent job as a CEO. Sounds like the special committee might be bringing what he considers a low ball offer and he's on defense now. Unless he's gone insane, you'd think that Sprott was on board with him and so he'll have some serious backing. ES' share, even at the reported 8% of $50M, is somewhat akin to me putting a quarter into the shopping cart at the grocery store. Why do that and double your money when you don't need it, and the potential for a 10 fold (or more) win looks like a reasonable outcome? Some people are worried about the share count. That is a problem but only from the perspective that the SP is so low that most analysts, money managers etc won't touch it. Just consolidate the shares to give it a reasonable >$1 value (~10 fold reverse split), and they'll shake the nerves and sell it to their clients, claiming that its a diamond in the rough. I think it is. In any case, any internal bickering won't change the RE, and again, most of it is amenable to open pit, low cost extraction. Bought some more when she dipped today, so thanks to those chicken littles for that manna from heaven. Next week will be interesting.