Galway Resources Ltd V.GWY

SP

[Geef]

Given the BMO loan and the effort to sort out the remaining consessions, the signs are that there is a tentative deal with Batista subject to the outcome of the consession negotiation. The SP at this point is immaterial.  What is not known is how much of GWY might be subject to the deal -  just Calif or the whole ball of wax.

Once a preliminry offer is on the table, other paties could join the game.

[Tris123]

Only California and the price still remain same $5.13 +, but the distribution will be less than $5 per share after paying all the expenses, and hold more money for the drilling in VITAS. VITAS will be the golden eggs for GWY and the share holders.    

[Red5Luke]

I keep going back to the Raymond James info since they have been to the property recently and seem to have been eerily on target with all their forecasts to-date. If they continue to be correct we'll be selling Cali to Batista as they indicate it isn't being treated as a long term asset like Vetas (see below). So once the final 3 concessions are tied up I can see a sale being announced and

[NaturalCurrency]

You think we will get $5.13 for California (how less could it be after expenses + Vetas drilling) and YET that would be less than Vetas? Wow. A $5 for California is $750M+. How do you think we will get it with 1.1M Oz? Batista is not going to pay for $650~$700/Oz for Cali.  $400 ~$450, I can still understand.    

[Tris123]

1.1m ounce is just pre estimate. Once the  concessions are confirmed a new estimate updates will be announced, and for 5.5 per tone $600 is the lowest price can go at over $1800 an ounce gold. VEN was evaluated at $400 3.3 per ton and gold was less than $1400,  

[NaturalCurrency]

You make good point about quality of ore, but I dont think 1.1M will move much after all the concessions are tied up. Much as I wish we get $700/Oz, I think we might be stuck in $400~$450 range.   But I will be happy if your assertions come out to be true.  

[rick1966]

The thing is Galway has already drilled more high grade that was not included in the original estimate that they highlighted when announcing the estimate. Does anyone know if AUX already has drilled our land fractions?  I find it extremely odd that Galway has not drilled them out.  I would suppose that the ounces there would be worth a premium.  IE 250,000 ounces there would

[Tris123]

You got it right Rick, that what I heard from my broker as well.