Interesting comments from everyone, I feel worn out by the AAU saga.
I have been a shareholder since the days of EnviroGold and over the many years have topped up along the way (too many times sadly), and have watched my investment slowly shrink and shrink. I always knew this was a "risky investment" and was tempted to sell out but I hung on to the belief that AAU would get there (I believed the story). I think that Brian (AAU) will be lucky to raise $1m. I don't think there will much if any uptake by "sophisticated investors".
I believe that AAU management's greatest mistake was to believe that they would get around $20m from the arbitration case, I know from experience that arbitration is a very risky path to take. Just because you believe your case is right does not Guarantee a win. I was greatly disappointed, like all shareholders, in the $4.3m outcome but not surprised at all.
I believe that the Dominican Republic will drag out the payment as long as possible. They can see the position AAU is in. I hope I am wrong we need this money now and the approx $1.4m from the sale of equipment. This CR will be too little.
Failure to get the the $4.3m and $1.4m will make the task of getting the first mine going a bridge too far I fear - IMO.
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