AurametThis news suggests that SGNL is pursuing developing the mine vs being taken over. When goldboro is pumping out 100k oz per year, plus 20K from Point Rousse, that's about 120 million in profit per year. It is much better for shareholders if SGNL can develop the mine on its own compared to likely current takeover price. When area towards Dolliver Mountain figures are back and if we see 5+ million ounces total, then that would massively drive up takeover bid price. It is not a good time for a takeover right now as that big news is still pending, and it is a time of low relative valuation for mining shares. Imagine what the takeover price would be with gold at 2000+, another 2 million ounces found to the west of the current pits and mining shares being more fairly valued. This could happen by early next year.
Looking at Auramet, they have mostly done financings in the 10 million dollar range, biggest at 50 million on their website. They are invovlved with the current SGNL loan facility. SGNL will need about 250 million to develop Goldboro, let's hope Auramet can step up to the bigger leagues on this and avoid significant dilution.