Ann: Response to ASX Query , page-11

bigone
Good research.

This latest SP move is all about Corona. End of story.

JAG has no money and no other exploration activity going on. To raise money JAG would have to go to the market with no prospects (before the Queenstown assays are published) and a lot of cheap shares. They wouldn't want to do that.

I have a STRONG sneeking suspicion that JAG could be a cheap takeover target for Corona once Corona raises the IPO money and is cashed up.

JAG would be gone and the Queenstown resources will be 100% Corona's. Interesting especially since Corona advised JAG and JAG advised the ASX that no assay results will be published before it completes its listing on the TSX. SO CORONA IS CALLING THE SHOTS HERE NOT JAG.

How long can Corona sit on drill cores without assaying them and why would they chose to delay the assay? Takeover planning could be a good reason.

The question is when will Corona have the money from the IPO? What price do they value JAG (Queenstown) at? When would a takeover offer occure? Chances are any takeover action would occure very soon (maybe a month or so) before any assay results can add value to JAG's SP. Maybe a share swap is contemplated.

Corona has completed three drill holes. Word is the cores are outstanding even though the first drill missed the target. By JAG's reporting the other two didn't miss. They went to the heart of the target.

Corona is headed by the proven and successfull Terry Allan.

I understand, and stand to be corrected, that former JAG Board member Ms Anderson is Terry Allan's daughter. If this is correct, it is intersting that Ms Anderson resigned from the Board late last year shortly before Corona's exploration drill results were published. Her resignation may be a good guide to what Corona think they have at Queenstown and what corporate action they propose.

So why did Mr Monti suddenly want to buy a large volume of shares in his own company without advising his Board and particularly his Company Secretary who has egg all over his face from an uninformed response to an ASX query. It appears the Sectreary wrote and sent a reply on behalf of the Board without the Managing Director seeing and clearing it first.

I hope Mr Monti's buying has provided a good lead to shareholdrs.

I still like JAG but wonder how much the Board values the company at if a takeover offer is presented to them before the assay results are released.

The above is only speculation but all very interesting.