OTCPK:MAGNF - Post by User
Post by
eztwo1on Dec 11, 2009 12:44pm
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Post# 16578294
It's 51% of Creporizinho , by the way.
It's 51% of Creporizinho , by the way.And the deal is subject to a 45 day DD period according to MNM's announcement of last month. Neither the deal nor the PP is completed. It was priced lower because the company and brokers couldn't sell it higher for reasons previously stated.
MNM couldn't get a loan to purchase 51% of a company with no official resource or reserve estimate. THUS 70 cents for the PP.... What happens when the resource disappears? Why would a company willingly give up control with $2000 gold coming? Why is there no mention of MNM giving up 49% of Uniao to the vendor with money mentioned?
Very likely not many brokerages wanted this deal unless it was priced low....
Once again: Creporizinho isn't a done deal yet and neither is this PP......And there are very obvious reasons. Both may be completed, but there is certainly no reason to be jumping in here.