This latest announcement has left us with more questions than answers it seems. The announcement was pretty light on with detail. Maybe because they are still carrying out due dilligence as stated but they also stated they have been working on this deal for sometime.
Where does the $6 mil come from ? Are the shares issued escrowed for a period of time ? New substantial shareholders possibly ?
All our gold prospects in Tanzania are jv's with Kari, so another plus.
What is the status of Igurubi ? Is it still a goer. The more it is delayed and the higher our shareprice the better I guess ! ( being an already stated certain scrip issue rather than a dollar amount - good deal)
Assume we will need an extraordinary general meeting to approve.
Must be more info coming.
Possibly a gold spinoff to raise the $6 mil. I hope not. I hope its a new substantial holder coming on board for the $6 mil as posters have already mentioned. Toyota or someone like that. I know the Jap gov't were sniffing late last year about an investment but AH wanted to keep it a tight ship and max. shareholder value before anything like that happened. It was always about the jorc. Maybe that has changed and the opportunity to have 100% of Ngualla was too good to refuse at these low prices.
We have a great company making deal here and soon as that uncertainity disappears the sp will have a more positive look about it. Looks like we have bottomed here (unless Europe folds). All the rare earth stocks have come off and look to have bottomed. The markets are starting to think QE3 will happen and we all know how good that is for resources and risk.
PEK Price at posting:
43.6¢ Sentiment: Buy Disclosure: Held
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