Much appreciated Stateside
This was copied from the statesider.com site. It was one of many updates that stateside wrote about from the time he spent at PDAC. I was just wondering if anyone else had the opportunity to make it to PDAC and may have any other information to share about what management at AHC had to say. Hope it was okay to post this Stateside. It is much appreciated and I thank you very much.
Artha Resources (AHC)
I've highlighted Artha a few times over the years in various reports. They have an excellent
early-stage project in Argentina next to Silver Standard's Pirquitas silver mine currently in
production. Recent exceptional high grade silver exploration results from Silver Standard
have occurred within a few kilometers of Artha's borders adding to the potential. Artha
received approval to explore this property in early September last year but do not have the
funds at the moment. Artha was exhibiting at the show and was looking for funds like many of
the cash-strapped juniors. Based on my discussions with management, Silver Standard likes
Artha's project but doesn't want to pay anything for it (at least anywhere near what it's worth). If the share price is to move higher from the $.02 level of today, Artha needs to either raise
funds or bring in a partner (my note – my preferred route would be a partner). They apparently
have a few irons in the fire to move the project forward but nothing has been finalized. My
impression is that even if a partner is brought in, management would want to do additional
geo work before they even think about a drill program so any news on that front would be
down the road. There doesn't seem to be an urgency about moving forward.
Artha management is also involved in a private company (with plans to go public) called
Metalstorm Resources with early stage gold projects in Nevada. Management seemed to be
more excited about the potential to move this project forward than with Artha at the moment to
my disappointment and I'm sure the disappointment of shareholders.