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American Power Corp AMPW



GREY:AMPW - Post by User

Comment by nemo3on Aug 21, 2011 7:15pm
319 Views
Post# 18965217

RE: Interesting... but...

RE: Interesting... but... I just happened to read about this stock today. The Myers urgent buy alert says that AMPW was a takeover target of Peabody. But that is NOT what the SEC filing says....the filing says it was merely to finance the exploration drilling program on Pace in exchange for an option....definitely not the same as a takeover target. Still looks interesting but hope no one buys based on that report."further to that announcement, on November 15, 2010 our management made a decision to withdraw from discussions with Peabody Investments Corp., a subsidiary of Peabody Energy Corp. ("Peabody"), whereby Peabody was to finance the exploration drilling program on the Pace Coal Property in exchange for an option to acquire any reserves of coal proved in the Pace Coal Property at the end of the exploration program. Our management feels that it would be in the best interest of the Company to undertake and fully finance such an exploration drilling program independent of Peabody at this time, and as such will proceed with it."
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