RE: AnswersYes, many thanks S-Cat. I think that the new resource estimate will be of considerable interest to the market. The old estimate, almost a year old, was just north of 300,000 ounces. Since then gold has appreciated and MXI has had considerable success on the ground. Given the reported results I think that it is fair to assume that the estimate of the size of the resource will move north considerably. And the value of that resource in dollars will move even norther! That coupled with IAM stepping up to the plate at .45( I think thats the exercise price) should move this stock past the 50 cent mark for good. The IAM management team is very highly regarded in the industry, their taking down the warrants at a premium to market will send a very clear signal.
As to not seeking a takeover, that may not be in his hands. If the resource estimate comes in north of the magic million ounces I think that there will be a collective "ping" on the radar screens of all gold companies operating in West Africa.
Thats a billion dollars plus of ore currently selling for 25 million or so. If your company already has the infrastructure in place then most of that billion falls right to the bottom line. Thats just too tempting for a NEM or someone similar.
Thanks again for the great sleuthing.