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Adex Mining Inc V.ADE

Alternate Symbol(s):  ADXDF

Adex Mining Inc. is a Canadian junior mining company. The Company is focused on developing its flagship Mount Pleasant Mine Property, a multi-metal project that is host to promising tungsten-molybdenum and tin-indium-zinc mineralization. The Company holds 100% of the subsurface mineral rights to approximately 1,600 hectares encompassing the Mount Pleasant mine area of New Brunswick, Canada approximately 60 km south of Fredericton approximately 100 km northwest of deep seaport facilities located at Saint John. The Company, through its subsidiary, Adex Minerals Corp., holds claims under Prospecting License 14338. Within the mineral rights area, the Company owns approximately 405 hectares of land. Also, within the mineral rights area there are two distinct poly-metallic mineral deposits, the Fire Tower Zone (FTZ) and the North Zone (NZ). The principal metals include tungsten and molybdenum in the FTZ and tin, indium and zinc in the NZ.


TSXV:ADE - Post by User

Bullboard Posts
Comment by 123con Apr 05, 2018 2:46pm
163 Views
Post# 27837777

RE:RE:RE:What is the best case scenario with this stock?

RE:RE:RE:What is the best case scenario with this stock?<p> I&#39;m not a lawyer or even expert on this, but the research I have done is summarized here -<br /> <br /> If GH wanted to buy all the shares, they would make an offer that they thought would be accepted&nbsp; by enough shareholders to get them over 90%.&nbsp; Once they have over 90% they can pretty much force the others to sell at the accepted price.&nbsp; &nbsp;The major exception to this is that a dissenting shareholder could then file a shareholder oppression suit.&nbsp; &nbsp;In my case, the fact that they continued to report that a Feasibility Study was being prepared and was repeatedly delayed (still not available 10 years later), and that they did a right&#39;s offering which was substantially dilutional as well as their history of not providing accurate updates on activities, plans etc gives me a fair shot at this.&nbsp; I could likely successfully argue that the majority shareholder (GH) acted in their own interests without regard to mine and other shareholders in a similar position and that they have unfairly caused my shares to depreciate.&nbsp; They have also continued to describe ADEX as &quot;A low risk investment&quot; on the website, which, after 10 years of sinking is demonstrably untrue. That would be a more difficult argument to make if you have been buying up shares at .005 - .02&nbsp; recently, knowing, or at being able to find out, how the company has been performing.&nbsp; &nbsp;So there is no &quot;negotiating&quot; in a buyout.&nbsp; The only way to force the price up would be if enough shareholders rejected the offer that they did not get to 90%, which would force them to make a better offer.&nbsp; &nbsp;There is another issue that I am not clear on though, and that is they may have to have a majority of the minority shareholders accept their offer to force a buyout of all the shares.&nbsp; I also found some suggestions that the majority shareholders would have to provide an independent evaluation of the company, which might include not only current share valuations, but other factors such as what would the company be worth if it was sold to an outside buyer etc. with any buyout offer</p>
Bullboard Posts