RE:RE:Merger DD : Remember When ANX Bought Orex?Rogg47 wrote: DoumDiDoum wrote: The deal at that time (
March 2017) was that Orex shareholders would get 0.85 ANX share for each Orex share. The offer at that time was about $15M in value, when the
resource for Goldboro was 831k ounces and
gold was US$1250.
Do you think that getting now about only $20M after 7 years, with more than 3 times the resource and twice the gold price is a fair offer?
I do not think so.
Geeezzzz again.... It's better than nothing!! What you don't get is that we're not selling only the property but the company who comes with HUGE debt and MAJOR concerns regarding the sustainability of the company (BANKRUPTCY)
!!... "Many thanks" to our overpaid Management who killed this company but funny, you have been defending and supporting them.... I've been posting since a long time that we, Shareholders, would pay one day for all their bad mistakes and here we are now!!
For sure the property should worth more than that but, no best offer was on the table so it's also raising some doubts about the real valuation of it
Rogg, you are the one that is surprising me the most: you've always been criticising management but when you have a real option to tell them they are wrong (read here that they SOLD SGNL for Tim Bits) by refusing the first offer we get, you go back under your rock and accept their poor negociations.
I'm asking you (and others) to read the latest NEXG financials and you will notice that
THEY ALSO HAVE some financial challenges as they will need to pay
US$675K each quarter starting
Q2 2025 + the
US$8M debt they have with Extract capital. As they already sold an NSR on the Goliath complex and has also some other royalties to pay, they do not have as big a leverage as SGNL has concerning the obligations they have regarding their debt (SGNL can extend the Nebari facility to February 2026 and can also deal a royalty on the more promising Goldboro property).
So, selling SGNL for only 29% and the dilution we are going to get after the merge, is really a bad offer. I'm pretty certain they can do better if we all stand against the offer and ask them to go back to the drawing board.
And please, do not tell me I'm in love with the stock... I'm just fighting to get what we should expect to have!