RE:RE:RE:RE:RE:Summary of phone call with Phil Berthelotgoldopp,
Last time I look, Canada still is a free country, hence there would be nothing that would stop a "hostile" TO of AZX, as long as it would be complied with the rules. How hostile you want it to be, meaning how outrageous the offer has to be to persuade some key players and some die-hard investors? Just name the price for the sake of argument: 0.06, 0.09, 0.12? (How about $0.18/s?, which would be equivalent to ~$40/oz in-situ, PRB is @ $78/oz). I would say the first two, 0.06 and 0.09, would be no go, since ES is not going to make almost nothing ($1M profit on his $2M investment = nothing to a billionaire). We are getting a bit warmer with $0.12/s, but that was the price that PRB was talking about, according to the rumour mill. But some of our die-hard fellow investor may incline to abandon the ship to take the offer.
But, this would all depend if this hostile act will start a bidding war. War is good in this case! Bet that AEM would be in there somewhere, the question is how far this company is willing to go to protect its interest in the Val d'Or area. ES, as usual, will happily play the role of king-maker.
A more convoluted (and more interesting) plan would be to have an intermediate scheme where PRB would be "allowed" to merge with AZX at a favourable term to both AEM and ES. It would be a paper exchange, so AEM and ES would end up with
PRB papers, and the end-game would be to seize the control of PRB from G which is currently @13.7% of PRB. It would be quite a chess game for AEM and G to duke it out.
Cheers,
GH
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goldopportunity wrote: Hey GH -- good analysis of the whole situation, and the players involved. Yup, as you said there probably are a lot of negotiations going on behind the scenes. Oh, to be a fly on the wall. The whole thingy looks complicated and potentially messy. Makes me kinda wonder what's to stop one entity (insider or out) from just going ahead and making a "hostile" bid for the whole company. Just sayin'. Jmvho.
goldopp