To be honest I can't recall from past Boulder announcements any mentioning of Indian partners. All media coverage since the 8th of march about NMDC involvement proved it just a speculation, thanks Niesper for provinding a link of NMDC media realease to HC in his earlier post.
However, now Mr Ross Johnson has informally mentioned about meetings in India recently and the scenario is now more complexed, so what is going on?
Assuming ABS, Boulder and an Indian partner did make a bid, ATLAS is now looking for $60 million despite they have quite a bit of cash. Despite what AGO says the $60M will be used for, Doesn't sale of Ridley provide enough capital? There might be four possible outcomes here:
1. Deal 2. No Deal 3. Deal but at a lower-end of the scale 4. Deal with more than AGO had expected
It's possible that AGO will put a company stamp on the Ridley deal during the capital raising period to ensure the share offer are fully subscribed as well as to support share prices. To kill two birds with one stone if you know what I mean.
So IMO, we'll find out soon enough about the outcome of the Ridley, plus the unnamed Indian partner(s) as everything intensifies and unfold in due course. Good to see Boulder clarified a few things in todays announcement. I think they are very careful of their wording as far as confidentiality goes.
DYOR
BGD Price at posting:
15.0¢ Sentiment: LT Buy Disclosure: Held
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