Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Chart / Patience paid off I see!
Pan American Silver Corp. to Launch Friendly Offer For Aquiline Resources Inc.
http://argentinamining.blogspot.com/2009/10/pan-american-silver-corp-to-launch.html
Kiwi
Well, here it is .. 3 months later ...
AQI is $2 cheaper.
But since gold and silver are rallying, I will be patient ...
and patient ...
and patient ...
and patient ...
and patient ...
Cramer just pumped ABX.
Said gold going t $1000.
Hope THIS silvermine goes along for the ride!
Press Release Source: Aquiline Resources Inc., Absolut Resources Corp.
Aquiline to Acquire Absolut Resources
Tuesday October 2, 1:41 pm ET
TORONTO, ONTARIO--(Marketwire - Oct. 2, 2007) - Aquiline Resources Inc. ("Aquiline" or the "Company") (TSX:AQI - News) and Absolut Resources Corp. ("Absolut") (TSX VENTURE:ABS - News) are pleased to report they have entered into a binding letter agreement (the "Letter Agreement") pursuant to which Aquiline offers to acquire 100% of the issued and outstanding shares of Absolut that it does not already own by way of a three way transaction (the "Transaction"). This is a transaction between two companies with an established historical relationship, and would result in the creation of a Gold Division within Aquiline, the initial focus of which will be Absolut's Pico Machay project in Peru and Aquiline's Calcatreu project in Argentina. If the Transaction is successful, Dan Noone, President and CEO of Absolut, will become Aquiline's President of the Peru subsidiary, and the team of technical engineers and geologists currently advancing Pico Machay will continue under Aquiline.
The combination of Aquiline and Absolut delivers to shareholders:
Advanced gold assets: Absolut's Pico Machay project in Peru has 580,000 inferred gold ounces (Mineral Resource Estimate, Caracle Creek International Consulting, Oct. 2006, see breakdown below in Table A), which is being advanced as described in the most recent Absolut press release dated Sept. 26, 2007. Absolut is currently completing engineering and metallurgical studies in support of permit applications. Studies to date (see Technical Report cited above) have reflected high gold recoveries (greater than 88%) in a style of mineralisation that would be amenable to a low capital, low cost, heap leach operation.
Proven mining jurisdiction: Aquiline secures assets in another Spanish-speaking South American jurisdiction, with a well-established mining code and long track record of foreign ownership.
Technical expertise: Absolut has a team of engineers and metallurgists with mine-building experience based in Lima, Peru. Upon completion of this transaction, Aquiline intends to appoint Mr. Harry Burgess of Micon International to serve as an external director.
Aquiline has been a 10% shareholder of Absolut in the past, and currently owns 2,766,000 Common Shares representing approximately 9.7% of the issued and outstanding Common Shares of Absolut and 1,970,000 Absolut warrants exercisable at $0.75 and $1.00. Absolut currently has 28,375,247 shares issued and outstanding, 5,000,000 warrants (3,500,000 exercisable at a price of $0.75 per share until Aug. 26, 2008 and 1,500,000 exercisable at a price of $1.00 per share until December 6, 2007) and 2,450,000 options, at a weighted average exercise price of $0.72 with expiry dates from 2007 to 2012. The shares, unexercised warrants and options of Absolut will be exchangeable at the exchange ratio outlined below to shares, warrants and options of Aquiline, excluding Absolut shares and warrants held by Aquiline.
Marc Henderson, President and CEO of Aquiline, commented "With gold prices approaching record highs and Absolut making steady progress towards production at Pico Machay, now seemed like an excellent time for Aquiline to expand its gold interests. Our Calcatreu project is an attractive asset - particularly in the current price environment - but has been totally overshadowed by Navidad and will benefit from the geographic and jurisdictional diversification that Absolut brings to the table in this transaction."
Summary of Terms
The proposed structure of the Transaction will be finalized in a definitive agreement (the "Exchange Agreement"), the principal terms of which are expected to be announced within the next 30 days. The Transaction contemplates a three-way transaction between Aquiline, a wholly-owned Aquiline subsidiary to be incorporated for the purpose of the Transaction and Absolut. Aquiline's wholly-owned subsidiary will then be amalgamated with Absolut to create a new entity wholly owned by Aquiline, and the Absolut shareholders will receive Aquiline shares as follows: (i) 0.1 common shares of Aquiline for each common share of Absolut and (ii) 0.1 warrants of Aquiline for each one warrant of Absolut, subject to a price adjustment equal to the exchange ratio. The Agreement will provide for an adjustment of the exchange ratio based on the difference in trading prices of the respective companies. This value represents a premium of 70% over the value of Absolut's shares at closing on September 28, 2007 (closing price $0.60) and a 47% premium over the 61 day (last two months) volume weighted average trading price on the date ended Sept 28, 2007.
On completion of the proposed Transaction, which is expected to occur prior to the year end, and assuming no exercise of existing Absolut warrants and options, it is anticipated that Aquiline will issue an aggregate of 2,560,925 Aquiline common shares to Absolut shareholders, representing approximately 4.7% of the issued and outstanding common shares of Aquiline. This number could be increased by the number of warrants and options of Absolut exercised, but such effect is neutral as the offer comprises shares, warrants and options on the same ratio basis.
The Letter Agreement has received unanimous support from both Boards, and Absolut has established a Special Committee of its Board to engage a financial advisor who will deliver an independent valuation. Under the terms of the Letter Agreement, Aquiline and Absolut have agreed to grant each other exclusivity subject to certain exceptions and Absolut has agreed to pay Aquiline a break fee in the amount of $1,000,000 payable under the customary conditions should Absolut solicit or recommend alternative offers from competing parties.
Closing conditions will be detailed in the forthcoming Exchange Agreement, and will include but not be limited to the completion of due diligence investigations, shareholder approval by two-thirds of the votes cast by disinterested Absolut shareholders present and voting at a special meeting of shareholders called to approve the Transaction, compliance with the related party rules contained in Ontario Securities Commission Rule 61-501, and stock exchange approvals.
ABOUT AQUILINE RESOURCES
Aquiline Resources Inc. is a precious metals exploration and development company. The Company's core strategy is to acquire advanced stage high-grade precious metal deposits within the Americas. Aquiline's two main assets are the Calcatreu Gold Project, in Rio Negro Province, Argentina and the Navidad Silver Project in neighbouring Chubut Province. Aquiline operates Navidad in trust under an Interim Project Development Agreement. These projects both occur along the Gastre Fault, an emerging mineralized district in southern Argentina that consists of several near-surface zones of high-grade mineralization, amenable to open pit mining.
ABOUT ABSOLUT RESOURCES
Absolut Resources Corp. is a Peruvian-focused gold exploration and development company based in Toronto, Canada. Absolut strongly believes in an international best practices approach, and implements this on all its social and environmental decisions. Absolut has implemented a quality control program to ensure best practice. The required qualified person for the Pico Machay Gold Project is Mr. Dan Noone who is a member of the Australian Institute of Geoscientists and is the President and CEO of Absolut Resources Corp.
Back down again.
AQLNF might be one of those "hold and forget about it" stocks.
Of course, their court appeal w/ IMR is coming up next week.
Yikes!
:>(
janet,
I have the distinct privilege of being the only person who has given you a person mark.
You and I are singing from the same choir book from the content of your message.
Times will be very difficult ahead and when you factor in Peak Oil, then it will be an automatic downer to the economies all around the world.
The Fed has begun to sacrifice the dollar to protect the investment markets. Fifty basis points was too high for one move, at this time. It seems that the Fed went out of its way to protect our silver and gold investments. But we will take it.
I missed out on AQNLF when it was dirt cheap and that was my fault big time. For a while, I was in IMR, but sold out of that one quickly. I should have taken the proceeds to buy AQNLF, but I bought into DEJ instead for more energy exposure. That has done well for me.
I will closely monitor to board and our other common investment.
You had a good day today and so did I [take a look at DEJ and SUF].
sumisu
Aquiline Resources
http://www.aquiline.com/
My thoughts?
Well, here goes ...
The U.S. dollar is declining as quickly as Gold & Silver are advancing.
From the looks of any 5-year Gold or Silver chart, I'd say AQLNF and other metal stocks will be going much higher.
Look at the chart posted by the person who started this board.
If I had bought this stock during the LAST recession, I'd be sitting pretty $$$$ right now.
That's okay, though.
Another recession is coming. And it'll be worse than the one we had in 2000. In fact, I think the times ahead will be the worse we've ever seen ... 1929 style.
The Fed, the Central Banks and Ben Bernanke can do all the manipulatng they want ... we're gonna get hit where it hurts ... in our pockets, by either inflation or a recession or both. Food and gas are already at inflationary prices. People are just too stupid to notice it.
I haven't done it, but just for fun, try overlaying a metals & U.S. dollar chart. Post it if you can so anyone who joins this thread can follow on stockcharts.
If Gold goes to $1000, and Silver goes to $25, AQLNF is at least a double from here. (as long as their litigation with IMR doesn't get in the way)
At this point, I'm just going to sit back, relax and let reality take it's course.
LOL!
janet,
I just hate to pay a high price for any stock. Aquiline Resources might go a lot higher, but so will other stocks.
I prefer a stock under $3 with good management and potential.
Mathematically speaking, I figure that the potential multiple of a stock at $2 or $3 is much higher than a $9.80 stock.
BUT Aquiline might have the goods to go much higher. Yes, last month was a good time to buy at $6.50 and that's why it's always good to have cash on hand.
I will keep track of Aquiline and might buy 500 shares on a big dip.
What are your thoughts?
sumisu
Is it "too late"?
The high was $11.50. We're now @ $9.80.
That dip last month to $6.50 scared the crap outta me.
Too bad I didn't look at it as a buying opp.
Once we break $12., we're off to the races.
Janet,
How did this one get by me? I had it on a watch list and stop watching it. My badddddddddddd. Too late now.
sumi
The scariest thing about owning this stock is ...
NOBODY'S TALKING ABOUT IT!
:>(
Rebounding Nicely.
Better hop onboard.
This train is leaving the station!
Watch this date!! 10/10/07
Press Release Source: Aquiline Resources Inc.
IMA Submits Application to Seek Leave to Appeal Navidad Decision
Friday September 7, 8:26 am ET
TORONTO, ONTARIO--(Marketwire - Sept. 7, 2007) - Aquiline Resources Inc. ("Aquiline" or the "Company") (TSX:AQI - News) reports that an Application for Leave to Appeal to the Supreme Court of Canada has been filed by IMA Exploration Inc. and its wholly owned subsidiary Inversiones Mineras Argentinas S.A ("IMA"). The application represents IMA's request to the Supreme Court of Canada to grant leave to appeal the decision of British Columbia Court of Appeal dated June 7, 2007 which upheld the trial court judgment dated July 14, 2006 awarding ownership of Navidad to Aquiline's wholly owned subsidiary Minera Aquiline Argentina SA. This submission was expected by Aquiline, as IMA had previously announced its intention to seek leave to appeal in a press release dated June 7, 2007, which was filed immediately following the unanimous British Columbia Court of Appeal's decision dismissing IMA's appeal.
Aquiline is required to file a response with the Supreme Court of Canada by October 9, 2007. If the application is denied by the Supreme Court of Canada, then there will be no further appeal recourse for IMA, and Aquiline will become the ultimate owner of Navidad.
If it were for the legal disputes with IMA, this stock would probably be much higher.
Unfortunately, law suits happen.
Was $7.00 a month ago.
We're now up to $9.44.
Gold is rallying big.
The dollar is collapsing.
We should be able to retrace to our 6 month high of $12.25 soon.
I like to be the first poster of all these mining stock boards created today. I for one hope precious metals go up since I own a gold stock.
http://www.cashcrate.com/index.php?ref=159394
Followers
|
2
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
25
|
Created
|
01/23/07
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |