'...we have agree to sell the Maldon Gold Operation to A1 Consolidated Gold for $5.1 million in A1 shares and attaching options.'... 'The shares that we receive from A1 will give us approximately 33% of that company distribute half of these shares with options to our shareholders on a pro rata basis.'
At 1.1cents ORS mc of low $2million. Now half of $5.1m in shares to be distributed directly to ORS shareholders, PLUS options on top - over $2.5m in value. Seems to me that after redistribution ORS shares to holders are essentially free at present sp, with Burns, funds raised and the other half of AYC on the books.
That would make it far cheaper and more attractive to buy ORS than AYC atm.
Is this logic correct?
ORS Price at posting:
1.1¢ Sentiment: None Disclosure: Held
