Elysee Development Corp (ASXSF)

[Montanore]

Found on another board. I haven't checked the veracity yet. Looks like Alberta Star couldn't begin to compete with this crew...

The winning bid was Silver Opportunity Partners from New York. (Private Silver Equity fund)

Theypaid $24.5 million US + $5 million to buy lease. Total deal $30million, $500,000 to litigate SPMI if they do not transfer the lease.
Kootenay was unable to complete it's financing because of the litigation involving the lease.
This was not a fiasco. ASX get all of its money back by way of Compensation fee. Still has about $14 million cash.
Tim is still the largest shareholder and will continue on.

Minco was unsuccessful in its bid.