RE:RE:RE:RE:RE:RE:RE:RE:Reserve EstimateGH wrote:
"I am not sure if the Special Committee was/is considering a partial sale of AZX properties."
You could be right, GH. There's been no talk of financing for the elusive 2018 drill program. Leads me to increasingly think that the SC is intending to sell alexandria to one buyer. Selling "chunks" as you pointed out the other day, of course, would bring us shareholders the bigger bang for our buck. But if alexandria was indeed sold to a single buyer, the premium would have to be hugely substantial, especially now that shareholders know just how under-valued our company is vis a vis other canadian miners. Case in point, yesterday's bar.to initial re release.
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GH wrote:
"PRB does not have enough cash to pull an all cash deal, but merging the 2 into one would give AZX shareholders some premium over the current value, in exchange for a top-grade management to run the combined company. So, I remain hopeful that PRB is in the running for AZX with an expectation that in 1-to 1.5 years Dave Palmer should be able to grow the resource of the combined land to over 5Moz to make it more attractive to a major (G, AEM...?)."
I like probe, too. It would make perfect sense for them to be involved in some way with alexandria's expected sale. If anyone can pull it off it's dave palmer.
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GH wrote:
"May be ELD would be interested as well? (it would be good to ditch Greece and get back home)."
Yup, I bet eldorado is just salivating to get a "chunk" of alexandria, or the whole enchillada. They'd be kicking themselves silly if another miner beat them to the punch. Losing out on a multi Moz mining neighbour like alexandria would make them the laughing stock of the mining community. Why the hell ELD ever got involved in that greek mess is beyond me. I agree, "ditch greece and get back home".
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GH wrote:
"AZX should be encouraged to look at partial sale of AZX as well, since the properties outside of the "flagship" Orenada have not been fairly valuated. The non-core out-of-province is one chunk, the other is the JV property with PRB. The cash from one of these two would be more than enough to fund the 2018 drilling program."
Good points all but at this writing it looks to me like the 2018 drill program is just a talking point. It appears to me that the SC is looking to selling alexandria......lock, stock and barrel. There's a possibility it could still be sold in "chunks". I'm leaning, though, to a single buyer if only because the 2018 drilling talk is just that....all talk and no action. But we'll see. Jmvho.
Cheers. :)
goldopp