RE:Management is on fire 48 million to 85 million sharesSince the world is grinding to a halt I figured I'd post since I haven't posted in awhile.
You can't argue the fact that Bharti has dluted us original shareholders badly however, if you have the stomach for it, there are choices for us. We can now buy shares at a lower cost then the upcoming PP (assuming it closes) to offset some of that dilution.
At the end of the day it will all come down to updated reserve/resource calculation and DFS. If it shows a doubling of the reserve and a significant increase in the resource there is still a case that we'll get a re-set on valuation that will make this all worthwhile. If we don't......well that's a problem. I repeat myself when I say this but I still believe that Kobada is a hidden gem. Contrary to what the naysayers say, I firmly believe Bharti and Callow et al do as well or they wouldn't waste their time on this. There are other opportunities out there.
I still also firmly believe that once these guys complete the new DFS they have a plan to get this into production with minimal extra dilution. My best guess is Bharti et al will
either roll their privately held (debt financed acquisition) operating gold mine in Ivory Coast they acquired from Newcrest into AGG and use cash flow from it to fund Kobada to production or they'll obtain debt financing to fund Kobada into production or perhaps some combination of both.
Anybody follow Robex (RBX)?? George Cohen, who used to be a director and the largest shareholder in AGG (and may still be a AGG shareholder although I doubt it), went through hell to turn that operation around. Our resident BB fukwit, Treetroll, also use to troll the RBX BB. Well guess what folks. Cohen, who is a sucecssful business man but not a mining guy, turned it around. The stock price has gone from about 5 or 6 cents a share to as high as 22 cents recently AND they just declared a 2 cent special dividend.
What's my point to relating the RBX story?? The same thing can still happen with AGG. I don't like Bharti but he is a mining guy. I do like the team he's pulled together. I think AGG still has a shot at being a moneymaker. GLTA and stay safe!