As a DRM holder, after thinking long and hard about the deal. I think DRM management are being to generous. Considering that MYG is basically broke. I mean, they have $1.4 million in cash, yet are going to spend $1.25 million this quarter alone on just ADMIN! They have the $6 million dollar loan as well.
I know DRM are loaning them $3 million, but that also frustrates me.
I think DRM should simply drop the deal, wait for MYG to attempt another capital raising, which will fail and then come to an agreement with Sandstorm to acquire the project. Sorry to MYG holders, but you have the weaker hand. The gold sector is a disaster right now. DRM is making money and has cash to protect itself.
I know I am being greedy, but this is the time for DRM to play hardball, not offer very generous deals to weak explorers.
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