RE: Does Anybody find it Strange.... chuck I will have a go...and just thinking out loud like scorpio....Allana has its attention on our current goals of getting financing in place with BNP working at "full tilt", a revised resource estimate within 60 days from now and mulitple other technical and geological testing underway to meet Ercosplans expectations for the BFS underway and due to be completed by Sept this year....so, we have many asking about Argentina and some initial gamma ray testing of old oil drill holes to confirm the two potash horizons that have been confirmed to our south and east...and some here want Farhad to make a bid for the Samarian Block to our east...and terms similar to the $2 million we made for the Haro Property...remember she holds 5 proven holes and millions of tons of potash...and the Samaria Block is in the east and touchs on the eastern section of Fed's land...and appears in line with the shallow potash hit by South Boulder...At first I thought it would be a very good asset to secure as it might hold shallow open pit mining potential...but after reading the recent report done on South Boulder they confirm open pit mining 1 m tons per year and a capex of $750 m....so, Farhads choice of solution mining our land is the right choice as Ercosplan might allow allana to ramp up to 2 m tons by solution mining with our projected capex at $800 million dollars......the long term value of Farhad going with solution mining is the only method that will allow allana to mine the valuable Kainite Layer which accounts for over 50% of our current and likely revised resource estimate...smart all the way round...So Chuck, as of today, could take of leave Samaria unless we get a real screaming deal...dont think Farhad and team have the time energy desire or need to stretch and dilute to buyout FED....when they have so much on the go for 2012....?
So, with regards to merging with Ethipian Potash FED...well, not sure we need them as much as they might need us...we have alot of goals and milestones to achieve in the next 8 months and as I predict..will have a revised resource with over 1 billion tons in the measured and indicated and with the BFS moved into the proven and probable categories....I might be more aggressive in a merger if I had not found out the real projected cost of South Boulders open pit mine and processing pland at only $50 m less than Allana's plans...hmmmm
$55 m cash on hand + $20 m from current PP + $5 m from Liberty and IFC increasing postions in AAA =
$80 m projected cash on hand by the end of Feb 2012 for Allana / 225 m shares = .35 cents cash on hand per AAA share and we are trading at .80 cents.....If you take the cash out...AAA is getting a market valuation of .45 cents....think its too low...think with a double in the resource estimate and the other initiatives underway we will still get a valuation of .45 cents...I dont. ....and nor should you...and others will not allow AAA to linger down here as Farhad derisks the project.
Karma