Mosey, like most juniors, AGS agreed to give 75% of the lease to Heathgate if Heathgate undertook and paid for all exploration of the lease. Heathgate (Quasar) had spent around $40 million before AGS decide to take them to court for Misleading and Deceptive conduct. But that's another story about extending the earn in period and not satisfying the conditions of the agreement. We don't know the full story cause we have never been told the finer details. That was what we were hoping for with the trial.
AGS could never have undertaken the initial exploration because they didn't have millions of dollars. So this talk about AGS owning and giving away B4M is rubbish. There was no B4M when the agreement was signed.
AGS Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
