Ameerex has reported they've signed a Definitive Agreement for the Acquisition of the Corcoran Canyon 45.6 Million Ounce Silver Project. That's swell, but why didn't that move the share price much? Skepticism? Nobody paying attention? OK, there's only been 5 hours of trading following that announcement, but still...
And why wouldn't they provide the details of the definitive agreement? I've done a bunch of DA's with publicly-listed junior explorers/miners and don't recall any we've announced that didn't provide all the agreement details (vendor, prices, terms, etc). I know this is the OTC, but a skimpy announcement like that wouldn't fly on the TSX or ASX where NI43-101 and JORC compliance rule. And you can't call it a 45.6 Moz resource without some qualification in the compliant world, like cut-off grades, how much in Measured, Indicated, Inferred categories, ave resource grades etc. That's amateurish. Or deceptive.
If Ameerex want to be taken seriously and court serious investors outside of the Sheik's immediate circle of drinking buddies, perhaps they should start acting like a legitimate, serious, responsible, compliant junior resource company? Surely they can hire someone who knows the rules of the game. Or is the intention to be entirely reliant on private Qatari Rial and damn the public investors...?
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