TUO, WM, MAI, DV
I have been speculating that Luxor Metals might gain more assets as Teuton Resources aka TUO prepares for the eventual sale of its 20% share of the Treaty Creek property in BC's Golden Triangle.
I was wrong, as all can see from today's PR from TUO.
Rather, all of TUO's non-Treaty Creek assets are to be moved into two separate spinout companies. )Recall that LUXR was spun out by TUO earlier this year. ) The rationale? "It also opens the way for a purchaser to take over Teuton’s 20% carried Treaty Creek interest without buying these other assets."
These two new companies which will be spun out to TUO shareholders.
Spinout #1 will hold all the properties JVed or jointly owned with Sulver Grail Resources, including the Ram, Clone, Fiji, Tonga, Gold Mtn., Konkin Silver, Silver Bar, Midas and Roam. Most of them are located near Stewart and were staked over 30 years ago, but have attracted attention of late due to GOT's success in the area.
Spinout #2 is more of a grab bag. It will hold 10 NSRs, including one on a portion of Treaty Creek, plus various other wholly and partially owned properties in the Golden Triangle.
So TUO shareholders will eventually end up with shares in all three companies. One wonders what will happen to the money TUO is going to earn from the sale of what will be its only remaining asset, 20% of Treaty Creek. Will the money be distributed to shareholders or used to acquire other assets?
One also wonders what is going on behind the scenes with respect to sale of Treaty Creek. IMO only a very large company will be able to afford the purchase, which I expect could also include SEA's nearby mines in development, creating a district-scale package.
Oh, and drilling has been completed at the Ram property JVed with Silver Grail. Assays are pending.
Message 35281422
I was a little surprised to red that Wallbridge Mining aka WM is abandoning its JV with Agnico-Eagle on the Derour Easr property, given how close it is to WM's main properties at Fenelon and Martiniere. But it does look like they got a good deal, selling it outright to AEM for $8M plus a 2% NSR which can be bought out for $4M.
And the money will come in handy, forestalling any need for a PP for the next while.
Message 35281397
FWIW, National Bank released a new analyst report on Minera Alamos aka MAI, keeping them at Outperform with a target of $0.50
FWIW, Raymond James released a new analyst on Dolly Varden Silver aka DV, keeping them at Outperform with a target of $6.40.
Saville warns that silver is likely due for a sharp drop, and recommends scaling back silver and gold exposure at this time. |
