Ann: Sale Of The Four Mile Uranium Project, page-156

atm from whats known the profit per pound from B4M is around $4

Ags has 25% of the approximate known? Resource of 100 -110 lbs

Lets say 25m lbs is minimum

Now potential buyers will use those figures as a 'starting point' imo

So the starting point is 100m Dollars profit! with some projected figures imo

headbanger using your figure of valuation of $1.00 a share then that's around 340m for ACE(AGS 340m share on issue approx.)

Some one paying ....
340m ( ACE) divided by 25m lbs, thats $13.6 a lb, a Buyer of ACE is paying imo
That puts the cost for any buyer at $54lb now (A loss of $10 a lb using H/Q $44 a lb return)
Your top figure puts the costs at $60 a lb now (A loss of $16 a lb using H/Q $44 a lb return)

Will some one pay $14 to $20 a lb for AGS's 25%? I certainly hope so.

Itochu if it takes up its option of 40% of ACE pays around $2 a lb atm using AGS shareprice of .15c and approximate 340m share on issue? I cant work out the advantage or disadvantage with the Itochu deal but on face value it favours Itochu atm

AGS are moving on because they cannot work with the BBros (so we are told) with the J/V Agreement as is and any potential buyer will no doubt scrutinise the J/V agreement. That's a consideration as well. imo

I cannot see potential buyers lining up other than Itochu(which would be a disaster) or the BBros (which would be a disaster) as far a fair/very good return is concerned? imo

My figures could be wrong but as I suggested they are 'starting points' imo.

Everyone has to realise we are in this position as Shareholders because of our Director's or one Director's mistake with the signing of the Initial Joint Venture Agreement and the following desire to be released from that, at all or any costs!. imo

AGS could have gone towards Production with 40m in the Bank (4 yrs ago), more than enough to carry us through this tough period with the U price as a result of the Japanese Disaster imo.

Moseley I read your post/theory that this is a charade so the BBros can save face and AGS will receive a very good buyout figure from them?

That's just a hopeful result and imo would put the entire Board in the slammer.imo

AGS Lost the M&D C Matter and with that the Board of Directors with I.Gandel as the controlling factor imo wants out from under the BBros! Nothing more nothing less.

We wont know until the Sale figures/scheme of sale etc is put to us whether or not its in our best interest to accept an offer or continue with the J/V. imo

The Itochu deal does us no favours imo.
We don't want Itochu anywhere near AGS if ACE is to be sold. imo

To date what Ian Gandel and the entire Board have achieved for all Shareholders is a disgrace. imo

I wonder if Ian Parmensky could offer an opinion on whats happened. Anyone know where he is?

Md