RE: RE: RE: RE: American Bonanza Announces Proceed"So why did they sell?"
They've raised $10.9M ($6M from the PP and $4.9M from BAL shares) --- I would guess they have an aquisition in mind very soon. Here is a clip from page 15 of their June 2011 Presentation...
American Bonanza: Acquisition Strategy
15
• 2011 and 2012 acquisition and exploration campaign (acquisition targets similar to Copperstone):
– Sites with substantial infrastructure – likely pre-mined sites or in production
– Potential for rapid permitting (Copperstone permit cycle just over one year)
– Potential for rapid construction and development projects
– High margin potential: primarily result of high gold grades & good metallurgy
– High grade + high quality = low capital and operating costs, and rapid development
https://www.americanbonanza.com/i/pdf/CorporatePresentation.pdf