re: Ann: Four Mile Uranium Project - Contribu...
It is an old ploy where a company that owns the major stake in a project will try and dilute the holdings of a cash strapped junior partner (saying this i don't know what AGS cash position is but they are in a good position for capitla raising). This is even more difficult for AGS because Quasar is not a publically listed company and have no obligation to report to the ASX or the public in general. AS long as they meet the governmnts environmental and oerational standards, they can start mining without any need for a JORC standard resource statement. One thing however is that the management of AGS are not the type to get easily bullied, GAndell already has a good track record and the appointment of Patrick MUtz who was previously in charge of Beverley for HEathgate i do think it will be difficult for Qasar to pull the woll over their eyes.
AGS Price at posting:
44.6¢ Sentiment: None Disclosure: Not Held
