The talk on AHR is just that talk. They are talking about...

The talk on AHR is just that talk. They are talking about inground values no consideration has been given of pre-development costs, dilution to fund this, development costs, dilution to develop and then discounting for time.

JRL is cashed up already. So the price of EME and ALY does not increase the cash balance until JRL sell some or all of their holdings. Something I believe, whilst inevitable, is hard to pick the timing.

I expect the board of AHR to reject the offer but make a placement to them at a premium when it all shakes out.