I can't really explain the sell down today, put it down to irrationality. I suppose it is a bit like wait and see. The joint venture deal has a lot of potential and it is very likely that gold will be found and more than enough to make shareholder happy in the next few years.
I think the best way to get some value out of the deal for shareholders is to spin the gold venture off into a separate company. From my experience you never get a fair value of deals like this factored into a share price when you are diversified and the main focus is elsewhere (EARS, EARMS DRI etc).
I would be very happy to end up with some shares in this company, and if APG ever get taken over, perhaps Mike Turbott etc have somewhere else to turn to.
In the near term it looks like we will have to wait for news on the main game (EARS, ERMS and DRI) to push the share price in the right direction for us.
APG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
