Post by
valueplaysonly on Dec 13, 2010 7:00pm
9 properties now, and alot of JV too!
Its nice that this property was bought for the current share price of approx ten cents a share. The new owner obviously wasnt clamoring for the price of 8 cents from a few weeks ago. Its nice to see an accretive transaction based on the higher share price and for full consideration, ie no warrants in the future. The chip channel results are spectacular with respect to copper percentages too. YLL continues to accrue property by levering its geological intelllectual property .Then it gets a JV partner to commit to the entire cost of purchase and YLL gets management fee as the operator of the property. Its brilliant. You retain a high percentage of a prospective property for zero cost and u get a fee while u wait. The last time YLL went to market for a private placement was over a year ago.. Contrast this with other companies that have tripled the float within a year. I'm sure we can all cite a few names.More news coming on two more fronts before Xmas.
Comment by
ttd902 on Dec 14, 2010 9:03am
Great property and strong samples. Nice purchase with little risk. Win.Looks like the trip to mehico was worthwile...GL