RE:KOBADA, words to be clarifiedInteresting analysis Phil but aside from your commentary on the operating expertise Robex has gained it is nothing but conjecture.
I've always stated Robex would be a great dance partner for AGG. Cohen has to show us AGG shareholders a little love though. If he wants to do a share deal that values AGG at 60 cents a share I'm all in as long as RBX cleans up their capital structure after the transaction. From my perspective Cohen and RBX need AGG more then AGG needs them though. Trust me when I say if Cohen picked up AGG for 60 cents a share he'll still be getting one helluva deal and having been on the AGG board he knows it and he knows Kobada has north of 5MM oz.
If AGG wants to raise $1MM - $1.5MM to buy time to put the right deal together I'm all in for that as well if that small sum buys us $50 - $60MM in valuation. For that matter probably another $2MM in RC drilling could add another $100MM USD in NPV to AGG's resource. That is basically 10 - 15% dilution that could very well increase NPV by 30 - 35%. In a pinch I'd accept that although it's not my preference.
You're dreaming if you think RBX will pick up AGG for 20 cents a share. Based on RBX's current share price of 40 cents if RBX issued 200MM shares to AGG shareholders you'd probably have yourself a deal that would be win win for both parties. Now start lobbying Monsieur Cohen and lets get this going already.
PS. Please post your post today on the AGG board as I'd like to see the feedback you get there.