jantimot has a point. You say (hopefully) financiers did due diligence on AYN which is speculation. However, did AYN do due diligence on Red Arrow Mines.... it certainly does not state as much in their recent ANN
I have been please with management to date and was look forward to holding a company that would at least be marginally profitable at current POS and quite profitable once POS turns up strongly. Unfortunately even if the above comes to fruition this new mine will probably be a drag on company profits and so SP will probably stagnate.
as stated before i will await further clarification from management on this proposed acquisition. If they did not do due diligence (and i suspect they did not) i would hope that at least they went to the site to look for themselves and possibly spoke to some of the locals (which i also suspect they did not as it would have been mentioned on gold prospecting forum which has been discussing this).
