Abacus Mining and Exploration Corp V.AME

Alternate Symbol(s): ABCFF

Metals & Mining Copper

Abacus Mining & Exploration Corporation is a Canada-based mineral exploration and mine development company focused on copper and gold in British Columbia (B.C.) and Nevada. The Company’s main asset is a 20% ownership interest, together with KGHM Polska Miedz S.A. (80%), in the proposed copper-gold Ajax Mine located southwest of Kamloops, B.C., which has undergone a joint provincial and federal environmental assessment process. The Ajax Project comprises eight Crown grants, including the Ajax East and West pits. The Company is also engaged in the process of acquiring a 100% interest in the Willow copper-gold property located near Yerington, Nevada, and it also controls the contiguous Nev-Lorraine claims subject to a ten-year lease agreement. The Willow property is located approximately 65 kilometers southeast of Reno and approximately 13-kilometer due west of Yerington, Nevada, in the Buckskin Mountain Range. Its porphyry copper deposits are Yerington, Ann Mason, Bear and MacArthur.

TSXV:AME - Post by User

Abacus Mining and Exploration Corp

Bullboard Posts

Post by stopedouton May 06, 2010 3:01pm

417 Views

Post# 17070849

Competing bid.

I am long again as of today on the bet that New Gold steps up and bids for the company.
The break fee is not significant.
NGD is developing an underground mine next door. Using one mill for both projects would make sence and I would imagine that they could buy-out AME for 20 million shares (0.1 sh of NGD for each share of AME) which would only be about 5% of the outstanding NGD.
If there is no bid before the June 22 meeting I will sell.
Up-side potential to 60c with a downside of say 20c.

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