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Gold/Mining/Energy : A to Z Junior Mining Research Site -- Ignore unavailable to you. Want to Upgrade?

To: marcos who wrote (725)	7/20/2002 3:35:21 PM
From: russwinter	Read Replies (1) \| Respond to of 5423

<Alamos is going to have to do some financing of its own pretty soon> AAS has a whole string of "bottled up" financings (because the exchange wouldn't allow them to close until PDG signed off on the AAS/NGT agreement) including one done with me and a certain other poster here. Now that that's been finished up and AAS annual has been filed, the paper is being released. AAS is capable of raising money at a drop of a hat, it's a question of price. IMO they should do it for both companies at much higher prices post merger. As you know I spent time with both managements in Vancouver pushing a merger. I came away a little discouraged and when NGT spiked into the 60's during the junior mini-blowoff in June I unloaded the last of my NGT shares. So I'm down to the warrants. I haven't heard any more on the merger except that the parties are meeting. Based on what I'm reading you say on the topic, we are on the same page. EVERYTHING will go a lot easier when and if they get merged and IMO they are playing with fire if they don't. Personally I think both companies are progressively worth a little less (and the risks amplified) every day that passes without a merger.

To: marcos who wrote (725)	7/20/2002 3:44:31 PM
From: jackjc	Read Replies (1) \| Respond to of 5423

Marcos, NGT AGM Expecting announcement on acquisitions in 3-4 wks. Cash from the 45 short form offering and 2/3 of the 55 PP went thru (even though stock was lower) giving about 1.3M in treas, better than I expected, enuf for the PDG payment 500k next mo and about enuf for the 875k due Nov 23 (my guess may need little more by then, spending is heavy, read fin repts). Lawyers working on getting operatorship for AAS in Mex (PDG ok still needed even though they signed off on JV) then will have sub working on stripping. Seems some of the PDG permits can be re-activated without too much delay for the follow on work. (Alamos has been unable to do any real work until they get operatorship,except the prev shallow drilling). They have new hire with lot of exp in mine dev, re-working PDG data (PDG assumed linearity of grade for all calcs, did not optimize mine plan for the hi-grade structures). Trying to firm up a mine plan that would be economic at low POG, need to vet this with independent consultant of course, already on board, expect some results 2-4 wks. Then if AAS recovery testing pans out, would have more favorable economics. (I'm not saying the economics may not already be good at todays POG.) No news on the JV partners getting together, but I had expected that further meeting on this were due soon, will be following up on this. Overall their cash situation is better than it's ever been, AAS may get operatorship in about a week and be able to finally get moving on Mulatos, and maybe we see better mineable grade (calcs being done for larger mine size than the Estrella zone 10MT, up to 25MT, dep of 1.5M oz or more). Then we should be hearing some new prop news (seems to me would have to be low cash entry with the PDG payment requirements). Could this guy pull another rabbit out of the hat ? Roulston seems to think new assets for NGT while AAS works Mulatos are where we're going. Not investment advice, I am long both NGT and AAS, holding because of the value I see in Salamandra.