On Tuesday Alliance Resources AGS received a taeover offer for the remaining shares not currently held by its majority shareholder, private company Gandel Metals.
The offer at 18 cents per share liftd the MC of AGS to $37.5m
AGS has a gold project with a 152,000 oz resource grading at 4.3%
AGS also has a early stage IO project with a 1.15m tonne resource grading 59.4% Fe.
How much is a early stage lowish grade IO project worth?
How much is a 449,000 oz resource owned by GML worth?
And how much more will it be worth if the resource can get a JORC standing of 1 million oz?
The comparison between GML and AGS might be tricky, but bloody intriguing.
Cheers.....D
Ann: Investor Webinar Gidgee Drilling and Exploration Update, page-30
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