Gold and Silver Juniors, Mid-tiers and Producers Message Board

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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: loantech who wrote (2481)	12/5/2005 1:40:18 PM
From: aknahow	Read Replies (1) of 78410

"When Jipangu made the purchase it appears as though they just accumulated shares and did a merger? Or does Jipangu get shares of apollo and the 3 subsidiaries?" Jipangu now owns the Nevada properties previously owned by Apollo. Jipangu paid a bit over $14 million for these Nevada interest. Since the Nevada interest were owned by subsidiaries of Apollo it makes little difference, to me, if Jipangu bought the properties or the subsidiaries. True one can invision Apollo still owing equipment is only the land mining and permit rights were sold, but imo there would be no impact on the price of the stock regardless of how these details actually were resolved. Since some of the MT equipment was sold I did wonder if that meant they intended to move equipment from Nevada to MT. In addition to the stock previously purchased in Apollo it purchased more shares and received options on additional shares that if exercised would give it as bit over 19% of the stock outstanding, at time of exercise. No doubt that Jipangu controls Apollo. Did management make a sweet deal for Jipangu in exchange for being allowed to stay and continue to "earn" their present salaries? Who knows? Unprovable. Huizopa in Chihuahua is interesting but so far there has been no drilling. While I could be wrong I don't expect any more work to be done at Huizopa that the minimum required to maintain the permits, until Black Fox is in production. A negative about Jipangu is that it blocks or at least reducesw the chance that other buyers will come knocking. But I am happy Jipangu is involved.

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