RE:RE:Response from Eastmain RessourceYes, the Canadian assets were the focus of the deal but instead of having them appraised they had their Peruvian assets appraised and then by process of elimination they determined the value of the Canadian assets. Completely azz backwards.
I guess Evan's and Evan's, a Canadian valuation's company knows more about Peruvian assets than Canadian !!! Ya right.
Had the Canadian assets been appraised as they should have been I doubt they would fetch
$ 50,000,000 meaning the ER shareholders would dominate the deal.
Yes the Hostake property has a NPV of higher than that but that's just smoke.
Just to add to the worry for ER shareholders is what is the chance of Fury even holding a $ 2.00 bid. Fury will have 117,500,000 shares issued @ $ 2.00 = $ 235,000,000 market cap.
Personally I don't think Fury is worth more than $ 1.00 but we'll see.
If I had the power I'd dump the merger but keep the new CEO, he'd figure it out.
I guess this is the Venture and somehow you guys became orphans, not sure how that happened but it did.
Maybe you'll hit it big , hope so.
Good luck
SecondLast wrote: We were duped. The Valuation that Auryn did on their spinout assets was clearly not anywhere close to what value the market gave them. Then when they went to do the raise for only the Canadian assets no one would give them their own valuation on the bought deal. I just cut bait when they announced the financing price, hate it