RE: RE: So what gives ?(response)<< They SCREWED UP on the BUYBACK >>
Yes
<< they REALLY were expecting USD 10 MILLION from S&JML >>
Maybe, although S&J made it clear in October that they didn't intend to pay.
Maybe they felt the bids they received for the S&J royalties were not attractive. There are only a few buyers for these things and they've been busy recently with other deals.
Maybe they did the offering in response to unsolicited demand. It's non-brokered, at the market price, and with no warrants. A big investor like Sprott may have asked AAB for the placement because there's no way they could accumulate a meaningful stake at the exchange. Management has to balance the cost of the dilution against the potential benefits of having a supportive high quality insitutional shareholder.
Also check the level of managemnt participation in the offering.