re; AGC: they're raising $7M-$10M - assume they raise $10M-...

re; AGC: they're raising $7M-$10M - assume they raise $10M
- that's a market cap of $20M with $10M cash and an EV of $10M
- that's the same as a company with a $10M market cap and no cash (or a bit better than a $10M company with no cash as they would need to discount to raise cash)

Is the $20m MC that you're talking about, the $20m that the Directors are valuing AGC at (which they've detailed in the Prospectus)?

If it is, what if the market says the ground is not worth anything and the $10m cash is $9m after costs ?

What I don't think you've taken in to account is the discounting effect of the in specie distribution will have on the subscribers to the IPO.

Also, I think you're placing too much importance on comparing ASM to the potential off-shooting of AGC.

ASM is considerably more advanced along the path to production of a highly prized commodity. I cannot see how AGC could go anywhere near the sort of increases that ASM has had. I think that MAG's share price would be much higher than it is now if the market believed in the potential of AGC.

For AGC to have a major increase, there needs to be some good drilling results in the near term and with that in mind, the best that could happen for the AGC IPO would be to come up with some confirmations of some of the mineralisation that's been put up in the AGC prospectus. Something like some results from shallow RC holes would be nice!!

What we need now is positive results for MAG from DD and the market to believe that the MC valuation of AGC is correct.