Cascadia Minerals Ltd V.CAM

Does anyone understand what Hecla's plans are for Rackla?

[Markcalgary]

Looking at picking up some long date options on Hecla Jan 2025 at a buck below current price.  Atac obviously  crapped  the bed with the natives, along with thier wierd ownership structure..... if there was ever to be a mining Wall of Shame.... this will go down as one of the great stories of complete incompetence.

MC

[Heywood_Silvers]

ATAC didn't piss in the corn flakes of the natives or anything as far as I am aware.  They did threaten to possibly pursue legal routes to obtain their tote road after it was initially denied.  However, if you read through the fine print on that it appears it boiled down to a matter of ATAC not having the proper permit in place to build a road.  Getting the tote road built would

[givemeabreak1]

Someone asked what a Silver company is wanting with Atac Rackla.  Did you ever think while Atac wasn't looking Hecla pulled a fast one!  So they get Rackla which if I was a guessing man they will do some work on then sell it for a profit.  Meanwhile they get what they were really after for free basically a throw in.  They get Connaught where historical drill results show

[Heywood_Silvers]

I asked Graham why we were giving away Connaught along with Racka, he was mum, he couldn't go into details.  You very well could be correct that we are getting boned by this deal. I mean, if Hecla is such a great company why has it taken it 100 years (yes kids, the company is that old!) to even get to a two cent annual dividend?! You're in business for 100 years and you can BARELY

[Pandora]

So if you get enough "no" votes does the price go back to 7 cents?

[Heywood_Silvers]

Price likely would fall back under 10 cents USD.  However, we would retain our gold optionality.  If the HL acquisition goes through, you're tied to the turtle whose 10 year high price is only about double from where it is today. I think it much more likely that ATAC from say 8 or 9 cents could jump to 18 cents than Hecla jumping to over $11.  Those investing in ATAC wanted the

[barringtondolby]

You laid it out nicely Heywood, I invested in Atac like most of the LTH here, because with thought it was worth multiples of what Hecla is offering. Most of us still think that way I am sure, if only because the future for gold looks so positive. I am with you HS, all the way.

[Pandora]

Are you suggesting the best thing for the company is new management to get something to move in the Tote Road situation? Or is there some better thing that could happen vs another buy out offer? From 2 1/2 years ago: VANCOUVER, BC , Dec. 10, 2020 /CNW/ - ATAC Resources Ltd. (TSX-V:ATC) ("ATAC" or the "Company") is providing an update following Yukon Government's

[Pandora]

I forgot to mention -- in the past 2 1/2 years we have replaced a CFO and two Directors.

[Heywood_Silvers]

I am not saying ATAC needs new management per se, I am fine with status quo.  That being said, if current management doesn't feel it is able to successfully advance Rackla, then we should've been much more deliberate with any M&A process.  It seems we were suddenly (thank you Victoria??) so in a rush to sell that the BoD accepted the first offer that was barely palatable. A

[givemeabreak1]

Heywood Your comment makes no sense!  You say ATAC is more likely to jump from 8 or 9 cents to 18 cents.  I am not sure you get it we are getting close to 18 cents if the deal closes.

[Heywood_Silvers]

Hi Gimmeabreak, my comment was in reference to what if the vote fails and we fall back under 10 cents USD as a result.  IF that happens, we would still be more likely to rebound from sub 10 cents up to 18 cents or so (doubling our share price) well before Hecla doubles to $11.  That is a rather safe bet to make.  But hey if the majority wants to vote to delay their double and switch

[givemeabreak1]

Heywood ATAC needs money if the deal does not go through you might see a pretty cheap financing soon after.

[Heywood_Silvers]

There is a very small chance the vote won't pass.  Even the contentious Sabina vote pulled in over 80% for a "yes".  Why is that?  Well, because if your junior doesn't have a whale or two (Sprott, etc.) to act as a bulwark against BS lowball offers, then you are left with a BoD recommending to vote yes and the institutional managers all vote in lockstep with the

[imho26]

Now that HL has gone down from $7 in April, the deal doesn't look as rosy. There are a lot of things in the air and the long amount of time between now and whenever this happens (with obviously no possibily of exploration catalysts in the meantime) is not optimal.  The only part of your position that I would take issue with is -- even with this far from ideal situation -- ATAC was going

[Heywood_Silvers]

It's all about sentiment.  The environment we had circa 2011 (ATAC trading near $10) will return again.  The markets are all cyclical.  And, trust me, if we got anywhere near $10 or even half that, the wait would be worth it for those of us with an average basis south of 20 cents USD.  I have to wait 10 years for a 25 bagger?  Where do I sign up?  Thank you sir

[givemeabreak1]

Heywood that is simply Foolish talk!  I hear the same thing over and over again from retail investors!  Just because it was at $10 ten plus years ago is meaningless.  I could name 100 with similar backgrounds nature of the penny mining business where 90% fail or when they finally hit the early investors have been diluted to basically nothing.  Management gets paid by financings

[Pandora]

So what's rattling the cage this morning? Over 1 1/2 M shares traded right out of the gate and the price is up 1 1/2 pennies?

[Pandora]

Make that 2.9M shares traded when looking at all exchanges.

[Heywood_Silvers]

Rumours of another suitor come to rescue us from this horrid deal with Hecla?  Oh, I wish it were so.  It likely is nothing but a few shareholders getting giddy that the voting materials have been mailed to shareholders. Yes Johnny, you actually can vote to let Hecla pick our pockets!!  Well, sign me up for another 1 million shares then!!

[Heywood_Silvers]

The truth usually lies somewhere between the extremes.  Granted, $10 was an overshoot back in the day, but below 10 cents today is an overshoot in the opposite direction.  If Rackla truly is a unique deposit in Canda, the project has seen its resource base increase in the last decade and the price of gold is also higher, then all the metrics so to speak have trended in the right

[Markcalgary]

My GUESS is that they couldnt get an agreement with the NND..... and cant get the tote road built. Not much value if its virtually on another planet.   Correct me if I am wrong, but the last agreement with the natives ended 2015-16 and have never heard another word.  The crazy ownership structure of ATAC and the complete lack of faith by the employees and board...... made me take a