The 3.5 cents bid, makes no sense whatsoever ... I am in the last 10 cent PP and never sold squat. YIKES! Here is the logic - Denision has spent $7 million out of $12 million required exploration on ALX's Carter Hook property, i.e. still $5 million to spend.
What is the Carter Hook Property, boys and girls - Adjacent to Denison property and ALX, received 10% of all the issued and outstanding shares of Denison in 2016. INCREDIBLE FOR A JUNIOR and this Board said that it was folly to give up and a company maker. If you work out the math, then you will come to the same result. I posted the same on this board much earlier ...WOW
https://denisonmines.com/news/denison-announces-completion-of-hook-carter-acquis-2111669/ https://alxresources.com/hook-carter-uranium/ https://mugglehead.com/alx-resources-inks-deal-with-denison-mines-to-boost-ownership-in-hook-carter-property/ Why it makes sense for Denison to make a bid for ALX? - Without checking but my recollection is that when Denison spends an additional $5 million on exploration, then it will receive 80% property ownership and ALX, 20%, but Denison will still have to pay royalties to Denison. Maybe it makes sense for Denison to simply buy ALX as a cheaper alternative OR EVEN BETTER STILL DO A SHARE OFFER, and no cash involved. Hum, this makes total sense! Denison has a ton of shares outstanding, so the number of shares would be miniscule to their outstanding shares outstanding (and back in the day, they were prepared to give up 10% of their company for this one property... Are Denison managers and Directors stupid, I think not, boys and girls. Was Denison asleep here, while maybe ... Denison was concentrating on its W... (I cant recall the name, and Carter-Hook was on the backburner.
ALX has lots of other uranium properties that maybe of interest to Denison. It is really a staking game now for juniors, and I wager to bet that ALX has tied up a lot of very good properties!!
What does the Denison website state as to the status of Carter Hook? Carter Hook was previously listed as one of the top 3 core properties on the Denison website, however, I regret to say, Denison now has 4 core projects, none of which lists Carter Hook ...
https://denisonmines.com/projects/core-projects/wheeler-river-project/ Current price of ALX, 1.5 cents to 2 cents, which makes a competiting offer persuasive. CHEAP ... If I am correct, this is why Greenridge Exploration Inc, GXP, market price 80 cents is likely interested in ALX and its properties, especially Carter Hook??
FYI, I have been in ALX for a number of years and these guys are the real deal ... genuine explorers and deserving of success. REAL PEOPLE, NOT PLASTIC PEOPLE.
Since they have been explorers for so long in Saskatchewan and have their roots in Saskatchewan, over the years, explorers bring their deals to ALX.
GXT is taking over ALX for 130% of the market price of ALX, or say 3.5 cents, however since GXP is a new company since Dec 2023 and its share price has essentially doubled in the intervening period, means to me essentially GXP is paying the current market value for ALX. Hum, in the alternative then, ALX shareholders at the IPO price of GXP???
https://www.stockwatch.com/Quote/Detail?C:GXP PLEASE DO YOUR OWN DUE DILIGENCE ...