Aston Bay Holdings Ltd V.BAY

Drilling costs for 2023 program

[Patrick2Linton]

Lets get back to discussing the company shall we? Lets start off with an easy one. According to fishercat, he claims he has confirmed from the CEO that last years exploration program cost about $5,000,000 of the $10,000,000 dollar exploration expenditure that AW1 would need to spend in order to acquire 80% of the project as per the Option Agreement signed in March 2021. 

The following is taken from BAY's most recent MD&A filing for the period ending December 31, 2022:  
A total of 1,534.6m was drilled in ten drill holes in the program.  

If AW1 is planning to drill up to 10,000 meters this would logically mean that the expediture of the $10,000,000 would be surpassed in this drilling season and would mean that AW1 will own 80% of the project if 10,000 meters gets drilled off.  Maybe yesterdays selling was because someone realized that BAY's 20% after this year may not be worth todays market cap. 

The 4 cent offers are building today. Gracias Tik tok. Grinnn. Cheers mate. Yup. Hummm. Without prejudice.

[schocor]

"THe CEO" confirmed that last years drillinng cost $5m to date on August 31st; thate not when driling, assays, or technical studies stopped. I reckon they spend far more than the $5m.  The budget for Aw1 last year was $9.1; so the real numebr is likely somewhere inbetween.  Regalrdless, AW1 will have fufuilled their earn in this summer; which is why even Thomasd the CEO says

[Patrick2Linton]

  After quickly looking at the option agreement, there does not seem to be any further payment of any kind to BAY upon AW1 acquiring the 80% after the $10,000,000 exploration expenditure has been met. With only $34,498.00 in cash reported as at December 31, 2022, I think the CEO is going to have to write another cheque to float the company. Gracias. Tik tok. Grinnn. Cheers mate. Yup. Hummm.

[schocor]

Yes. If I recall, they gave Aston $500k for the right to earn in . This money was in teh Aston coffers in 2021/2022 - and has clearly been subsequently spent.  AStno needs money. Fact. 

[Patrick2Linton]

Correct. $500k on the front end for the option. Money has been spent. Gracias. Tik tok. Grinnn. Cheers mate.

[woundedknee]

So this is info on the cpmpany and is well received. But is there another side to this? There are always two sides. Yours is the negative side.

[schocor]

If yuo are inevsted, why not give us your take? What is the other side to having received $500k and spend it in the previous years? What is the other side to having no money in teh bank and a debt owing to the CEO of $600k?  You need to understand thiese things if yuo invest in a company; yuo SHUOLD know these things before yuo invest in a company. I find it trouiblesome that yuo have pimped