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Abacus Mining and Exploration Corp V.AME

Alternate Symbol(s):  ABCFF

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

Comment by bullsnipon Oct 26, 2011 5:06pm
396 Views
Post# 19184214

RE: RE: KGHM Takeover

RE: RE: KGHM Takeover Two good posts. KGHM requires Abacus to maintain it's operator status for the project for goodwill during the permitting process.Once the required permits are obtained KGHM will become the operator with a 35 mill payment for an additional 29% of AME, giving them a 80% share of the project.The remaining 20% being held by Abacus would seem to be a easy buyout target for KGHM, unless they deem them as a valuable partner for further expansion in Canada.Either way is good for AME shareholders.It seems like we are trading in a very tight range and pressure to keep the share price down seems evident.For what reason?,only the big guy's know for sure.In the meantime it remains a good chance to accumulate more shares at a good price.Reminder to newbies, not without risk. JMO.
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