an alternative perspective

I have been scratching my head with this deal. You will note that the deal could pan out to be $3m in cash and 12m ATW shares (which are currently trading at about $1.10 C). Is this a case of developing Gullewa via an investment in an existing mining company. A swap if you like. ATW have an existing operation up the road plus other opportunities in Argentina, plus an obvious ability to raise capital, having raised about $10m in Feb in Canada. I read that some of the Directors came from Kinross, which is a huge Canadian miner. they probably have quite a good following. Perhaps the boys at BTV assessed that 12m shares in ATW plus some up front cash, was a sweet deal, compared to having to proceed to mine, which would be difficult in this investment environment. A mate of mine was just in Canada at a mining conference, and the junior sector over there is still able to quite easily raise cash.

So, look at it this way...BTV has $12m in cash post this deal, $3m in THR shares and options (which could go the moon) and $12m in ATW shares(assuming the deal proceeds), which could also do very well . So, to me that's current value of say $27m or about 22c per share. And, they still have their iron ore tenements and project.

These guys are not silly. There will be a plan here. It's either the focus will now turn to the iron ore and let's face it that is hot territory, or some other project. And perhaps they assess that ATW shares are going to do very well.