RE:RE:RE:Summary of phone call with Phil BerthelotNewrookie,
Merci!
Thanks very much for your explanation. I made a guess before your reply with two examples.
- It's quite natural for AEM to participate in any financing at this price level. First, to protect their interest in the Val d'Or area, and second the price level is just too hard to resist. It would seem that ES and others including Sprott Inc. did not like the idea of AEM gobbling up a big piece of the pie, in addition to he fact that EO went ahead with the scheme without the BoD consent, and the rest is history.
AEM's willingness to go along with the financing scheme may have gavin EO a sense that AEO was on his side. But, come to think about it. AEM would just consider this as a business opportunity to buy AZX on the cheap...it's just a business deal. AEM is just as opportuninistic as anyone else. Buy a good property on the cheap!
- Since the old $21.5M PP has been scrapped, and AEM is still interested in a deal, in the form of PP, (and it does not matter who is arranging it after the Special Meeting, or even before the Special Meeting, if this is doable), it would be interesting to see who AEM would support in this proxy fight. Bet that negotiation is going on behind the scene between AEM and AZX BoD for AEM 8% (They/AEM can always witch their votes around).
My guess, just a guess: AEM would go for AZX management and the BoD, since in the end they would want to get the support from the block that is controlled by ES and Sprott Inc, and their "friends". AEM will not let AZX go to its competitor (e.g. Goldcorp).
- AEM has Goldex Mill just on the othetr side of Val d'Or, and they are going full-steam ahead to bring the deposit on the 14 claims (Akasaba West) they bought from AZX for $5M into production soon. Surely they want more to feed that hungry mill.
- There will be a PP which would be participated by both AEM and ES et al, since AZX would need to get some more money in its treasury, the question would be how much, $10M?, and at what price? It's also my guess that ES would have quite a bit of say in this.
Cheers,
GH
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Newrookie wrote: GH, According to Mr Berthelot, Agnico was involved in the $20M PP with $5M. According to him, they are still interested for PP, same for european investors. But that time, he did'nt provide me any numbers. I asked him what will be the total outstanding shares after financing and he said something around 700M 750M shares at least. Agnico don't really want an intermediate ( fire sale to another compagnie) (what I think I understood from Mr. Berthelot is aem have a couples factory in val d'or and they would like to proccess our gold or something like that). He told me to feel free to call him at any time at his office in val d'or if I have more questions. You should give him a phone call ( you are the real expert hehe). Sorry for my messy post, im trying to type on cellphone keyboard and it's a real mess !