RE:RE:RE:RE:RE:RE:RE:RE:RE:pvg valley of kings
Junglej, I was content that Mr. Cremonese would have had good reasons to withhold title and, if American Creek wanted to resolve the situation in court, then so be it. Unfortunately from the standpoint of the Teuton shareholder, Mr. Cremonese never was allowed to tell the Court his reasons.
So here we are. Now we have our futures to look forward to. If there should be exploration at Treaty Creek, Teuton will be required to sell part of its interest in order to finance this exploration or else it would have to issue a bundle of units that would dilute the Company severely. If the drilling was to cost $2 million, say, Teuton's share of this cost at six cents per unit would exceed 15 million units. Translate that into more than 30 million shares fully diluted -- added to the existing 35 millions shares or so fully diluted. In effect, Teuton would be giving up half the Company in exchange for one and only one attempt at success in the field. That's not a good trade-off, particularly if you lack confidence in the operator.
That's why I say that Teuton has to be very, very careful with whatever it agrees regarding exploration at Treaty Creek. There's no hurry to explore there, at least from the standpoint of Teuton's shareholders. We have other have other exploring to do. The remaining portions of the High look very promising. Do these facts reflect an uncooperative Teuton? Not at all. The Company will be acting responsibly for the benefit of the shareholders. If exploration success elsewhere in the Golden Triangle produces a substantially higher share price, then Teuton would be giving up less of the Company, if a private placement to drill at Treaty Creek took place then.