RE: RE: stop the farse I hear what krykory and slick are saying...We finallly seemed to be moving in the right direction making money producing more efficiently after so many screw-ups...new operations team improving efficiencies a second mine coming on line in 2014 and a large land area to be explored....Why complicate a situation where debt is still an issue in a brutal market....Especially for a project that differs so much our own...a narrow vein higher grade deposit...Why????
We are getting it for about $4 to $5 million in our almost worthless paper. Not cash..They have no debt that we will inherit. Infrastucture and reserves alone are worth 10x our price. (realizing that things are only worth what another company will pay for it) Relatively low cost open pit mining is available to test the mill and ore economics...(Underground mining in these types of deposits are almost impossible to make money see the former Century mining and presently San Gold) Highly prospective chance to expand surface mining reserves especially Nokomis and even at already existing Puffy pits. Once we purchase it we don't have to do anything until we are producing fully in Sonora or more importantly capable and ready to...
Still so much unknown....
- Is the refinancing in place? If yes what will it resemble (gold royality stream??)
- What other criteria are in place for this deal to go through??
- Will AIA shareholders go for it
Not to mention the 10 to 1 rollback...
Most of us are so far underwater that it is almost pointless to get out now. the risk is worth the potential reward..Should be an interesting and hopefully informative next couple of weeks.
One positive after the announcement our stock price didn't fall of a cliff it already did that a few months ago
GLTA