I am shareholder of all three companies and will postthis on the boards for TRR, GLD and STA.Upon a review of all the public information available and in my opinionthe following are my thoughts.
It is now apparent (with TRR bid for GLD) that AugenGold value has increased as theyown all the land around TRR and especially adjacent to the Cote Lake find.
TRR needs the lands to the north, to the south and tothe west of Cote Lake strike to develop an open pit and to extract all gold andto be of real economic value. The“Pit Envelope” (lands owned by GLD) is needed by TRR but reading all publicinformation the chance for the Cote Lake extension could extend well into theGLD lands. So it is possible thatAugen could possibly control half (or less) the ounces that TRR has discovereddue to the “PIT ENVELOPE”.
It seems that to enable open pit mining of the TRR’s CoteLake find, the pit design has to encompass all the Augen ground in the CoteLake area, otherwise many, many ounces will be mined.
That means that Augen controls (directly orindirectly) a large part of the minable ounces.
That means that Augen’s share price should be muchhigher, in my opinon $2.00 to $3.00 range.
Another very important development was the JointVenture that Augen did with Sanatana Resources (STA) this year. This agreementallows Sanatana to earn up to 51% on the Augen ground surrounding TRR in theCote Lake discovery, (the same ground that TRR needs to mine their 4.2 millionounces to date). So, Augen andSanatana are sitting pretty and hence shareholders have a great upside. Also, Sanatana Resources has a “ROFR” onthe 9 Augen claims north of the Cote Lake discovery that TRR has to acquire forthem the complete a “Positive Feasibility Study”.
Without these lands TRR will be in a very awkwardposition and its’ shareholders willbe affected accordingly.
Whatever happens to GLD, a similar scenario couldoccur for STA, i.e. a take over bid (??)
So, basically, the TRR evaluations to date should besplit up with Augen and Sanatana. A third each would be nice but that may be pushing it.
What a beautiful ‘dilemma’ for GLD and STA.
p.s. I trust this will work well for all threecompanies and respective shareholders.
w