RE:RE:RE:RE:More AGM details on websiteThis is what really stands out to me:
- It seems like $100,000 for a 2000+ acre property full of minerals (and timber as you mention) is an incredibly low price.
- Then on top of that, the purchase was made in stock.
- THEN on top of that, the stock is subject to a four-month hold
- People need to remember that a buyout announcement is much different than a completion of a deal
- As per the ahsineeg’s article: average time is 72 days from buyout announcement to completion of a deal (2.5 months)
- Then you take into consideration the volatility of the stock after the deal is complete (some people cashing out, some people buying more, etc etc). Let’s say that lasts a month to settle and find its floor. You’re now at 3.5 months
- Those 142,857 shares at $0.70 sure would like nice around this time…
My thinking is whoever sold this land did not want to undertake years of exploration when they could essentially piggyback off this deal
and still receive 1% royalties on any future gold found on the property