RE: Spin -off!I think youare mistaken on that one… Impact Iron will be an independent publicilly traded company…Impact Iron will have it’s own BOD (mostly likely the same guys as Argex)…Argex will not own any part of Impact Iron…
Impact willraise it’s own cash for drilling at which point it will pay Argex 2milliondollars for sale… Every Argex share holder gets 1 Impact Iron share for every10 argex shares…
Also, Argexwill receive 5million share once Impact iron proves more then 100million tonsof iron…
WHEN Impactgoes into production at ships app. 15million tons of ore ($2.6 billion worth)then Argex will receive additional $60 million from Impact…
The Valueof us owning 1 share of impact for every 10 is all dependent on how badly Impactgets diluted in IPO…
In myopinion this is a bad deal…
Argexshould have kept a better portion of the company… or at least built someresources at the M site before giving it away…
IMO Argexwill gain absolutely nothing from this deal…