At first glance, even second andthird glance, it seems incoceivably negligent to dispose of the Atomaer interest at this time for such a low price. Braemore is at the threshold of a favorable decision from BHP Billiton and is also accelerating its platinum projects. There is no mention to what degree of capital infusion Atomaer was allegedly looking for, and the timing of all this is highly suspect. Who made out on this deal? It doesn't seem to be EC shareholders.
Atomaer/Braemore was seen as Ecometals' backup value since we never really know what petro-pimp Correa will pull next. Braemore is up an running and is forecast to make money.
from the March 31 interview....
Leon Coetzer: Probably nickel has not been as resilient as platinum. The nickel project at this stage has reached a very good conclusion in the sense that our development work - which is based on an agreement between ourselves and BHP Billiton - has reached a point where we have now submitted that work to BHP Billiton. They have complimented us on for the sheer quality of the work and requested a three month period during which they will review that - and then take the option to progress the project further with us. On the platinum side definitely not - this is a market in which mergers and acquisitions in the junior space will be rife, and there are real opportunities that Braemore can now seek to expose itself to because of its access to a technology solution both in smelting and in refining.