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Minera IRL Limited T.IRL



TSX:IRL - Post by User

Comment by peruchocanuckon Oct 07, 2013 2:40am
235 Views
Post# 21795420

RE:RE:RE:RE:RE:Talks of Liongold corp. buying Minera

RE:RE:RE:RE:RE:Talks of Liongold corp. buying MineraSlowLane I agree with you, but when you read the NR this is what is says: "...Minera IRL Limited ("Minera" or the "Company") (TSX:IRL) (AIM:MIRL) (BVL:MIRL) notes the recent share price movement and confirms that it is in discussions with LionGold Corp Ltd ("LGC") which may or may not lead to an offer being made for the Company. In addition, LGC and Minera are in discussions regarding a potential private placement under which LGC would agree (subject to certain conditions) to subscribe for up to US$ 10 million of the share capital of the Company in two tranches.....There can be no certainty that any offer OR private placement will be made, nor as to the terms on which any offer or private placement will be made. A further announcement will be made in due course." So correct me if I'm wrong but I see a NR with two possible outcomes: take over or private placement for USD 10M (15-20% of equity)...so 3 possible outcomes (take over, private placement or nothing), but the market looks to be focusing on the takeover part of the NR and forgetting about the private placement part of it, a private placement that, as you mentioned, would mean givin up control and more dilution...
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