Eskay Mining Corp V.ESK

Pooff!

[Retiredgeo]

That fell apart quickly!

[hankhenry44]

Mac Balkam dropped the ball. Should have consummated the deal. Eskay needs the P2 geological expertise and P2 corprate vision.

[mrsgoldminer]

Well, that did not last long. Mac Balkam's Eskay Mining Corp. (ESK) said today that it is calling off its friendly merger with Joe Ovsenek's P2 Gold Inc. (PGLD), citing "market conditions" as the reason the two companies have decided not to merge. Ironically, the two companies cited "improved access to capital markets" as a key reason for attempting

[Oaxacajohn]

The company has to put out details of the exploration program. If it is only surface work and no drilling then a season is lost and the company is still in need of financing. ESK should take the dilution and raise enough capital to do a major drill program to confirm the property potential or realize the intial success was not indicitive of the projects potential.

[Retiredgeo]

More likely they are waiting for another player to finance them.  P2 was a poor choice because they don't have any money either.  It is back to square one. The property has potential coming out the yin-yang but they need someone with deep pockets to finance them.  We are locked in a waiting game.