GREY:ALXDF - Post by User
Comment by
Poriemonon Mar 01, 2016 10:01am
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Post# 24608407
RE:90% of the Matachewan properties optioned to Prosper Gold
RE:90% of the Matachewan properties optioned to Prosper GoldGood find.
Looked up Prosper Gold - they don't have any real funds to drill with and they trade at $0.16 per share. To raise $5 million, they're issuing 31 million shares which is roughly their share count at December 31, 2015. And we did this for share consideration?
I guess the key part of the farmout is whether anything will come from it - if it does, it's just upside with no real downside as I'm guessing we wouldn't option out 75-90% of the potential if we thought there was something large there to begin with.
As an aside though, and probably more important IMO, is that AZX is finally beginning to farm out some of its properties to get cash-efficient exploration underway. I wonder if this means there's some half decent JV arrangements coming down soon as well?