Larry,
<<<< The way I see it, IPM's sole asset is its right to mine BRX. But since that right is really owned by Phoenix/Omega, IPM really doesn't have any assets (unless there is some secret economic recovery process we don't know about>>>
I don't think this is correct. IPM's "assets" also include the results of drillings, testings and assays, some of which are still secure, etc. IMO, this information does not automatically come into the possession of the party who "owns" IPM's mining claims, but must be purchased. We have been told that IPM spent millions and millions on exploration. Presuming this is at least partially true, these results may have some value to the party having possession of them.
If this is true, it may be advantageous for Maxam to have control of these exploration related assets, in addition to the BRX.
<<<< So I see no point in Maxam offering to "buyout" IPM to acquire its assets AND ITS LIABILITIES, when they simply could acquire its assets from their friends >>>>
IMHO, Maxam is acquiring the liabilities in exchange for the exploration results and therefore would not have to pay additional funds to re-drill, re-assay, etc. I presume Maxam believes they would save money this way. As I understand, this is the point of Maxam willingness to acquire IPM liabilities. |
