The exercise price for the options is very unlikely to be "in the money" IMO.
Under the proposal with ALK shares can be purchased on market by ALK and for every share purchased an option is decreased accordingly so it restricts them to 19.9%.
In this scenario EXU will not receive any additional money into their coffers by exercise of options.
Re Mace update.
No mention of the exact figures they have used to calculate their 20,000 oz au. apart from stating 400kt @ 1.4g\t. which comes out at only 18,006 oz.
If it was calculated on 425kt instead of 400kt you would think they would show this amount and if the grade was 1.45 g/t instead of 1.4g/t again you would expect them to show this figure.
425kt @ 1.45g/t = 19,815 oz au.(getting close)
RMS has a resource at Stellar West which is shown in their books as
410kt @1.4g/t for 18,000 oz au.
A 10% discrepancy overstated on the amount of contained au. using their stated figures seems a bit odd to me.
AIMO.
Jim.
The exercise price for the options is very unlikely to be "in...
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