Gwy - Eike"s "take under" ? Eike may have finally hired some big financial goons to get us at a cheap...He didn't become a billionaire by paying fair market prices. I can see his kindergarden report now===>does not play well with others. GLTA
Must Read Report: John Tumazos Advisory and Compensated Reasearch, LLC
Link: https://advisoryandcompensatedresearch.com/Research%20Library/GWYRF101011%20JTACR.pdf
p.13.
Our greatest worry is a “take under,” where a hostile bidder takes advantage of recent stock
market crises, Galway’s low valuation and the absence of any 43-101 compliant disclosure
of its Colombian gold and silver resources. From the standpoint of “process,” we worry
that a “White Knight” or counter bid could be difficult if Eike Batista’s AUX makes a
hostile bid for Galway, as mining companies are timid, busy and reluctant to bid against the
richest man in Brazil. From the standpoint of “process,” there is a risk that any small
company’s own banking or legal advisors could be insincere, and bargain on behalf of the
larger future potential client owned by the richest man in Brazil.
p. 2. A tick that won't go awayy.
“SLIVERS” ADJOINING FORMER VENTANA GOLD
Galway Resources also owns “slivers” of land claims adjoining Ventana Gold from other
sides, where Galway Resources’ Colombian native geologists observed sloppy survey
techniques, and “overstaked” Ventana Gold in 2009 to capitalize on the sloppy survey
techniques of the neighbor. We estimate the slivers have up to 0.5 mm oz of gold and 3
mm oz of silver and are worth $75 to $100 mm.
Galway Resources does not possess Ventana Gold’s data, other than public press releases,
to precisely estimate the amounts of gold on those “sliver claims.” However, the “slivers”
adjoin and are parallel to Ventana’s richest zones, which “aim” straight down trend towards
Galway’s Pie de Gallo and other zones at California. It is possible Galway Resources
negotiates some sort of negotiated sale for cash, a royalty or some other consideration.