I believe so, b4atf. I like to increase my learning curve so please advise this board when you receive your .85 cash and your Alamos Warrants.
Well I still don't understand it. Will the 85 cents get transferred into my brokerage account or where the hell do they go?
ESPZF: Plan of Arrangement; Each Esperanza common share was exchanged for $0.85 in cash and 0.0625 of an Alamos warrant (each whole warrant, an Alamos Warrant). Each outstanding Esperanza warrant (warrant) was exchanged for 0.15 of an Alamos Warrant (the "Arrangement")
Alamos Announces Friendly Acquisition of Esperanza Resources
Jul 12, 2013 09:01:15 (ET)
TORONTO, ONTARIO, Jul 12, 2013 (Marketwired via COMTEX) -- Alamos Gold Inc. ("Alamos") and Esperanza Resources Corp. ("Esperanza") (otcqx:ESPZF) are pleased to announce that they have entered into a definitive agreement (the "Agreement") pursuant to which Alamos has agreed to acquire all of the issued and outstanding common shares of Esperanza by way of a court-approved plan of arrangement (the "Arrangement").
Esperanza is a precious metals exploration and development company focused on advancing its principal property, the wholly-owned Esperanza gold project (formerly referred to as the Cerro Jumil gold project) in Morelos State, Mexico.
Pursuant to the terms of the Agreement, Esperanza shareholders will receive C$0.85 in cash for each common share of Esperanza held, representing a premium of approximately 38% to Esperanza's 30-day volume-weighted average price ("VWAP") for the period ending July 11, 2013. The transaction values Esperanza's equity at approximately C$69.4 million on a fully diluted in-the-money basis. In addition, Esperanza shareholders will be issued approximately five million Alamos warrants in aggregate and existing Esperanza warrant holders will be issued approximately two million Alamos warrants in aggregate. The warrants will be listed for trading on the Toronto Stock Exchange.
"Alamos is very pleased to announce this transaction with Esperanza" commented Mr. John A. McCluskey, President and Chief Executive Officer of Alamos. "Esperanza is an excellent strategic fit within our existing portfolio and in our view, is one of the best undeveloped opportunities and significant open pit targets in Mexico. We have followed Esperanza's progress for some time and see this as a truly compelling opportunity for our shareholders. While the transaction represents less than 5% of our market capitalization, it has the potential to grow our production in Mexico by more than 50%, or nearly 30% on a consolidated basis."
"This transaction provides an attractive and immediate premium to our shareholders," said Mr. Greg Smith, President and Chief Executive Officer of Esperanza. "Further, the cash consideration provides liquidity and value certainty while the warrants ensure Esperanza shareholders will retain exposure to the success of the Esperanza gold project going forward. Alamos Gold is an industry leader with substantial experience operating in Mexico and the financial and technical capacity to continue advancing the Esperanza gold project. Finally, I would like to thank our employees for their dedication and hard work over the last number of years and all stakeholders of Esperanza for their support."
i can never read them. i click the link and it sends me to an advertisement. thats bad if their quoting i-hub post in their PR's. i still don't hold this. i don't see enough volume and suspect their selling some shares with all their updates
I need to contact ESPZF Bert. Those Home Country releases are always about a month old! I get mine direct from the Company on release. I also don't appreciate having my ihub posts cited either.
yep, only one way to go from here
Like so many of my junior miners there is no point in selling anymore.
This a great time for new investors though.
Yes Bert, Pan American was willing to buy in at $1.70 a share last February. I guess it will depend on spot PM prices.
this pps is beginning to look tasty
Esperanza Enters into Agreement with Pan American Silver to AcquireThree Advanced Gold Projects, Pan American Invests $35 Million andProvides a $15 Million Standby Credit Facility to Esperanza
Feb 25, 2013 08:49:36 (ET)
VANCOUVER, BRITISH COLUMBIA, Feb 25, 2013 (MARKETWIRE via COMTEX) -- Esperanza Resources Corp. (otcqx:ESPZF) ("Esperanza" or the "Company") today announced that the Company has entered into a binding letter agreement (the "Agreement") with Pan American Silver ("Pan American") whereby:
-- Esperanza will acquire a portfolio of advanced stage gold projects
including the La Bolsa project in Mexico, the Pico Machay project in
Peru, the Calcatreu project in Argentina and related exploration
properties from Pan American for consideration of 50,900,000 common
shares and 10,000,000 warrants of Esperanza (the "Acquisition");
-- Pan American will subscribe for 20,600,000 Common Shares of Esperanza at
a price of $1.70 per Common Share representing a premium of 29% to the
20-day volume weighted average share price on the TSX Venture Exchange
and a 48% premium to the closing price on February 22, 2013 (the
-- Esperanza and Pan American have committed to enter into a $15,000,000
standby convertible credit facility (the "Standby Facility" and,
collectively with the Acquisition and the Offering, the "Transaction").
-- Creates a multi-asset, financially strong, growth oriented, gold
development Company fully funded to put its first gold mine into
-- Increases Esperanza's consolidated measured and indicated resource base
to 2.8 million ounces of gold and 28.9 million ounces of silver with
additional inferred resources of 1.1 million ounces of gold and 8.0
million ounces of silver.
-- Greater scale and financial strength with approximately $75 million in
cash and marketable securities and confirmed access to additional
Greg Smith, President and CEO of Esperanza, commented "This transaction sets the stage for the creation of a significant low-cost, multi-asset, precious metals producer. While the Esperanza gold project remains our flagship asset, the addition of the permitted and build-ready La Bolsa gold project provides an additional option for near-term gold production. Additionally, the Pico Machay and Calcatreu gold projects provide a meaningful pipeline for continued production growth.
Mr. Smith continued, "We are pleased to welcome Pan American as a significant and supportive shareholder. Further, we welcome Geoff Burns, President and CEO of Pan American, Steve Busby, COO of Pan American and Michael Steinmann, EVP Corporate Development and Geology of Pan American to Esperanza's board of directors. The technical and strategic expertise they will bring to Esperanza will be invaluable as we construct our first mine and as we grow our producing asset base."
Geoff Burns, President and CEO of Pan American, commented, "We are extremely pleased to team with Esperanza in creating a significant new gold producer. Our non-core La Bolsa, Pico Machay and Calcatreu gold projects are an excellent strategic fit with the low cost Esperanza project. The combined portfolio clearly has the potential to create a meaningful gold production base, providing a value creating proposition that Pan American can participate in through our shareholding in Esperanza. Esperanza will be a well-funded, multi-asset, gold focused development company with an established market presence and solid management team."
i can imagine. the sale is going on every were
That's right Bert all my PM Juniors are getting killed.
silver spot price taking a big hit today but short contracts to expire so load up
Yikes! I am bullish on ESPZF but the last two days have been painful.
Doug Casey and Jim Sinclair along with Many others have reccoed ESPZF.
thanks, i wanted to post the artical that got me here but i cant find it now will do more reading on it soon
Welcome to the board Bert. The more you read about Esperanza the more you will like it.
lol, i do some silver stock hunting and look who i find
this one looks good to me. a junior w/huge cash position relative to cost means low dilution. open pit mining is subject to less regulations and safer. gonna mark this board and keep an eye on it. could be a winner
ESPZF is executing their plan just as they said. If silver would ever get back to $50 we will quickly move to all time highs.
Looking good since the first of the year...
Very nice work on the Ibox PL.
ESPZF is very undervalued.
Auguries - November 24, 2012
The Wolf At The Door
Kevin Michael Grace
Gold was up (at press time) $37.60 (+2.2%) for the week to $1,751.40, and silver was up $1.54 (+4.7%) to $34.21. Bloomberg reported that gold reached a five-week high, and silver reached a six-week high “as the [US] dollar’s drop spurred demand for the metals as alternative investments.”
Reuters reported that, according to UBS, gold had faced “a key technical level” at $1,739.10. “Our technical strategist notes that a break above this level, which is the month’s high, would be a crucial bullish development that would open up $1,748.95, the 62% percent retracement of the October-November selloff ahead of $1,794.80, the October high.” Having risen $23.20 Friday, gold has already gained back that 62% and more.
Read the rest of this article about gold prices. http://resourceswire.com/2012/11/auguries-9/
The biggest news is the commencement to trade on the American otcQX exchange back in October:
The company website is under construction... FWIF.
That is what caught my attention this morning, the OTC Markets alert that ESPZF was now on the QX exchange. Being the top tier that is always impressive and I like Canadian companies where I can research them on Sedar.
Welcome to the board Ohman. Doug Casey and Sinclair like ESPZF.
Been a strong mover and moving to the higher exchange may pop it up. Increasing silver production every year.
Hey! Esperanza Resources. Friends don’t let friends dilute their stock 50%