possible plan for itochu deal

"The conversion of the Deferred Share Rights to Shares will occur 40 business days after NURA provides the Company
with a notice of conversion. The notice may only be provided to the Company during the 6 months after the Four Mile Uranium Project Litigation is "finally determined". "Finally determined" means that the claims the subject of the current Federal Court litigation have been admitted or satisfied by the defendant, withdrawn by ACE and not reinstated, settled or a judgement has been delivered which is not appealable or reviewable."

Now from reading this I believe the plan is for Itochu to buy out AGS's 25% and become Heathgates partner in the B4M project. They will buy the first 40% of ACE at the AGS shareprice at the time all litigation has been dropped by AGS. They are then able to make an offer for the other 60% of ACE and then AGS will be out of Heathgates way.

This is why I believe the negotiations have been confidential. AGS are planning to off load all of ACE and get completely out of the project. I believe the negotiations have involved all three parties and go back to late 2011 when they went into mediation.

The key point of the statement is the wording "withdrawn by ACE".

I think we have a right to know the true size of the resource if AGS is going to sell our stake to Itochu.

It would probably be a good outcome for all involved. And hopefully the proceeds of the sale are distributed to the shareholders.

I think we should demand to know the size of the resource though before this goes ahead.