With the repricing of options I see this.
These numbers can be found in the AGM mailout page 20.
Option value first assumed was $2,088,750 at repriced value of 18 we get $1,161,000
So they fell short of the value by $927,750 now assuming the goal is the value not options total at 18 cents you need an additional 5,154,167 options.
That means you need 80% more options to net the same cash value first assumed. You mentioned 1.4% dilution adjustment for the repricing and I see a net EQ effect of (1.4% + 80%) = 2.52% and as you mentioned TUD runs at 3.5%. AMK Management needs to keep this in mind because finding tens of millions of oz a year is STEEP competition.
Now let me try and put 1 year together here.
The first question, Why does AMK need an exploration team? Last time I checked AMK isn't an exploration with a free carry so again let me ask, Why pay a premium for something AMK doesn't use?
I did say Premium, in our case it's a double premium. Let me explain. With the spinout of Stinger things changed, now they sit and wait. Does that sound like MORE work? Are they working like TUD? Of course not but this quarterly says their Management fee went up 10% over the same period last year so
What's up with that management?
And AMK pays for an exploration team for which we have no use for, Double PREMIUM.
Here are the last quarterly numbers
Q321 Q320 NineMths21 NineMths20
Management fees (note 13) 109,500 100,500 488,500 401,500
Management fees are going up right?
Now that we know management made more this year remember at the beginning, oh yes the repricing. So much fun.
The money loss to Shareholders is $927,750 or let's put a positive spin on it. Since we have no exploration work yes management fees went up but let's also give them a 200% bonus? Tell me you don't see it now? Paid a fee now they want to give themselves 1M off their Stocks? Balls! Basically paid themselves 3 years in 1. So yes we're paying Options for an exploration team that doesn't explore and this year net effect paid them 1.5M? And going forward we are going to get diluted not because we need cash but because we are paying a premium for an exploration team and we don't even need it. A shame really
It Gets better
So now we're going to have over 6M shares going into the hands of a board that were net sellers in 2021? Take a look at insider trades, I even posted it. Denis bumped >65% around the time most of us were trying not to be bucked off but not Denis and Tobin? He couldn't even be bothered to get on to be bucked off.
Is this being long?
oh so much fun
Now, If only the shorts had access to over 6M shares, if they did, covering would be a breeze right? :)
What a minute, SHOCKER!
Are you seeing what I see? Shorty Shorty? No wait, I must be seeing things right? Repricing options at 18? Come on! Great price really, got me some of those 18's myself. So Denis SELLS 30 then covers at 18? Come on Waffles, can't be and that's not all. Ask yourself, options are dated for 10 YEARS FROM now at 32 cents and MANAGEMENT are worried? Tell us ALL WHY because I can't figure it out!
CUZ their SHORT! LOL Tell us all why 6M shares at 18 cents? No, we're going to keep them at 32. Thank you very much. Call my Bluff.
Now you're close shorty, I can smell the Waffles!
Let's look at the last piece. Essay times. Brutal for all exploration companies having to wait >6Months. Terrible but is it all bad? How excited are we all right now over the last week or so? I know I am, and lined up with the AGM. Let me guess, most are so excited about 70M oz you won't even look at the AGM docs? Why would you! SCORE!
We waited a long time for this, just take a moment to take it all in. It's a lot. This will help.
Go SHORTY, it's your birthday!
And if ever you do catch a shorty by the tons, make sure you SQEEEEZZZZZEE!!!! I know I am.
Let the Shorties come play a fair game out here in the open market, I'll feed you some Waffles! In exchange for your Face!
Now let's have some fun! HEADS UP!!!!!
WITHHOLD!!!!!