Ann: AAG sells stake in VML , page-4

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  1. 6,439 Posts.
    Yep, it was an XTOS after the market closed on Friday, circa 25m shares at 8c = $2m

    Positive is that they are focussed on the CMGP.

    But the negative is that they had a high opinion of the potential of VML's gold project in Africa. Why sell it then?

    Possibly to raise some more cash for the CMGP mining study.

    Also maybe shoring themselves up for some M&A activity, should the CMGP drilling results hit the jackpot.

    They'll need a fair whack of cash to bring the project back into production, so maybe a merger will be the way to go.

    I believe AAG's ounces would be a perfect fit for SLR up in the Murchison.

    Cheers
 
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