RE: What's wrong with EAS's JV?What the deal shows me is:
1) Miwah at current price is significantly undevalued
2) CTN who know the area well, have faith that 'forestry issue' is a non-event
3) PTBK shareholders get cashed and don't get squeezed out for lack of funds - and we need the Ache locals involved
4) an EAS - CTN working relationship could open other opportunities in the future
5) CTN wouldnot enter into this agreement and waste working capital if they were not truly confident that EAS was going to have "way more" than 10 million ozs
6) It would cost CTN a lot more money to carry out share on the development side - but EAS will be bought out at $15 - 30 before that happens and CTN (and PTKB as ctn shareholders) participate in the windfall.
Basically its a good deal for the PTKB individuals - a good deal for CTH shareholders - comes at no cost to EAS - confirms our collective analysis as to why we are shareholdes - and if EAS & CTN develop a positive relationship, it may open doors to other opportunities in the area.
I don't have a problem with it as a shareholder - in fact I like it. I didn't have much respect for CTN before this - but "if" EAS is what we think it is - then this shows CTN management has some real smarts.
Coastal.