RE:RE:OT, Alexandria Minerals To Partner With Probe Metals !Blue,
Agreed that it would be beneficial for ICG to consider having a JV with AZX, or make a move to have a large piece of AZX (dirt cheap at $15.6 Cap for almost 2.5M ozAuEq that they currently have). Even an offer of 100% of AZX would not cause much hardship to ICG. An offer of $25M, i.e. at a premium of say 60%, would win the hearts of AZX shareholders. So for about 40M shares ICG can gobble up AZX and become the pround owner of almost 2.5MozAu Eq, without doing any drilling.
The resources in Manitoba can be sold off when there is an opportunity. Just keep the stuff in Val d'Or, especially the Orenda properties which are within a stone's throw from Triangle. Yup, this is much cheaper than develping Lamaque Deep which may have more ozs, but would also cost much more to get to the bounty.
ICG may have to hustle, since PRB is on the move. PRB has announced a JV with AZX for the Eastern portion of AZX property which includes Sleepy (0.280Moz inferred). Since PRB Lapaska property is next door (western), it would not be a surprise if PRB would try to get the old Sigma 2 mine property to consolidate that parcel of land.
Also, PRB has announced on the same day (1 De 2016) that they have acquired from QMX a parcel of land just south of their flagship property (New Beliveau) in Val d'Or.
In addition, PRB has made a 11% equity investment in QMX which has Lac Herbin Mill which is just a few km away from Sigma Mill. It's interesting to note that QMX priority exploration target is almost next door to Triangle Zone.
Since PRB already has 11% of QMX it might want to repeat the merger exercise it did with AGE to get the rest of QMX (Market Cap: ~$11M). Osisko with the other 11% of QMX would not mind exchanging QMX shares for PRB shares, imo.
This is a depressed market for many junior exploration companies, but a golden opportunity for well- funded companies such as PRB and ICG.
Between the two company AZX and QMX , if I were ICG I would go for AZX for two reasons:
(i) the 2.5Moz already discovered in the ground; and
(ii) proximity to Triangle.
ICG can sell off the non-core properties (e.g. those in provinces other than Quebec) to recoup the expenditure for the acquisition.
If ICG is not snappy enough, PRB may decide to go for AZX (it has the ozs). Although G is a majority shareholder of PRB, PRB is also friendly with AEM (it has a JV with AEM next to Goldex Mill).
GH