RE:RE:RE:RE:RE:RE:RE:RE:africa finance corp in talks with avnel gold on mali projectI was told that Singer had to get a 15% annualised return by CEO, which was about 38 cents USD last year or about 50 cents CAD, but it is probably lower now because the warrant exercise lowered Singer's average cost (haven't heard the math on what it is now).
I don't believe the company is for sale. Management doesn't really own any stock so they have few incentives to sell and if Singer wanted to sell the company out from management, last summer would have been a good time as the warrants were deep in the money and it was a bull market. Company is also cashed up again with the warrant exercise so no pressure to sell either. The only pressure is likely to close the underground mine and start construction of the new one. Plus, the only leaks are on potential financing (not sale) from a Bloomberg article that people with a terminal don't copy and paste into here.
Will we get another drill program in before the rainy season hits?