General Atomics ( the "famed Blue Brothers") through one of its subsidiaries Quasar has been patiently holding a share in the extension of its Beverly Mine in South Australia for many years.
It has been waiting for a friendly change in policy from the Federal Government of Australia. It now has that and as well a very enthusiastic State Premier .
Its prize is not its approved Beverly mine but an extension to that..The Beverly 4 Mile area..named because of its distance from the Beverly mine.The size of B4M has never been public information. But now its junior partner Alliance Resources is demanding just that.
Quasar (the legal Joint Partner)...Heathgate..General Atomics..the Blue Bros.. want to keep it private... AGS now wants to make it public for share price consideration, listing rules and to alert other big fish of its value so that Quasar has some opposition if bidding for this prized deposit commences.
So it is commissioning out of its own capital an accurate resource estimation of what the deposit holds.
The AGS Board is very savvy. Ian Gandel the major shareholder is an international developer of shopping centres , a keen mining entrepreneur in Australia and one of the country's wealthiest persons.
This is the beginning of a corporate play.....
Ian Gandel has made the first play because right now at current prices AGS is too cheap and too vulnerable.
So get the information into the public arena as quickly as possible.
Skilled negotiation and planned deal closure is the strength of the AGS Board.
And what about the Blue boys
" Blue is a razor-sharp businessman, and interviews with dozens of Blue's associates and sparring partners suggest that he will do anything to maximize profit - even if it means violating agreements. And while some who have locked horns with him simply shrug their shoulders and move on, a few have taken him to court for breach of contract, fraud, and racketeering.
Blue admits to breaking contracts but won't comment on the rest."
So a tough fight can be expected.After all he is on record as saying that the USA should have sent unmanned aircraft over Nicaragua on kamikaze missions to blow up the country's gasoline storage tanks. "You could launch them from behind the line of sight," he recalled matter of factly "so you would have total deniability."
WOW...He also owned the aircraft of course..the Predator
But my money is on Ian Gandel getting value for shareholders.
Opinions are those of DeepLode.. quotes from
has an AGS thread which has it all...but would probably moderate some of DeepLode's speculation.