The last AMG resolution gives them the option of placing 127 Million shares. At 20c each that adds about $25M to their war chest.
A recent announcement put current cash at around $11 Million (from memory) which was lower than I expected. Presumably the drop was th higher drill rate and pipe line infrastructure.
So all up they probably have around $60 Million to play with. It seems high likely they are setting up for an asset purchase (option 2). I personally think option 3 is too big to pull off (assuming RFE is the potential target). Much easier to negotiate with management for a straight asset purchase and the use the pre approved placement to fund drilling, etc.
AOK Price at posting:
20.5¢ Sentiment: Buy Disclosure: Held
