OTCPK:MGMXD - Post by User
Comment by
bob4977on Oct 17, 2012 10:49am
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Post# 20493062
RE: Partner Announced for the South American Pojec
RE: Partner Announced for the South American Pojec Another way of looking at it is someone is willing to pony up $66 million in exploration expenses to win 70% of the properties. That is $66 million AXY does not have to pay to find out if these properties are viable or not. Ross Beatty said they did not want to do this project alone as there would be too much risk for them.
Also, since this deal is for exploration expenses AXY is valuing the properties at around $20 million which is just over 4c per share.
Bob