re: Ann: JAG Announce Due Diligence Completed...
Down to 0.9c today, likely to be tax loss selling playing a big part as well as market conditions generally.
By my calculations incoming or outgoing Directors can take up to 47 million shares out of the 100 million available in the capital raising.
If they place any remaining shortfall into safe hands there will not be much of a free float available.
Moving to the actual acquisition itself, looks like the current two tenements are just the starting point.
Moratorium to be lifted possibly in early July 2013 and West Rock looks poised to apply for some very prospective ground, having spent the moratorium time examining large portions of the ground across Colombia generating what may be akin to first mover status.
Already talk of having a potential tier 1 mineral asset.
The other intriguing thing is West Rock's 'side' relationship with a major company for project generation in the Asia Pacific.
Getting $750,000 per year to generate joint venture projects could be a nice little side earner for this company. Could lead to a 20% interest in a good project down the track, with CNR needing to pay a significant amount of exploration costs to earn their 80% interest.
Of course all of that is the future... question for now is re risk/reward.
One of the better buys around on that measure imo due to:
1. Directors coming in with previous success. 2. Diversity in the projects- Colombia/CNR. 3. Priced at 66% lower than the placement price that directors are going to take a huge amount of.
All points to a winner from here, or even one to free carry when it reaches par value for the cap raising in the near future, as one would think it would given news flow and the drying up of stock at present levels in coming months.
JAG Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
