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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Altria Group | ALA | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 13.28 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 13.28 | 13.28 |
| Top Posts |
|---|
Posted at 04/1/2003 19:05 by energyi Alamos Minerals Ltd. and National Gold Corporation: Due Diligence Reviews Completed and Definitive Amalgamation Agreement Executed 12/20/02 VANCOUVER, BRITISH COLUMBIA, Dec 20, 2002 (CCNMatthews via COMTEX) -- The Boards of Directors of Alamos Minerals Ltd. ("Alamos Minerals") and National Gold Corporation ("National Gold") have completed their respective due diligence reviews and have today executed the definitive Amalgamation Agreement between Alamos Minerals & National Gold. Under the terms of the Amalgamation Agreement, shareholders of Alamos Minerals Ltd. will receive one common share of Alamos Gold Inc. for every two common shares of Alamos Minerals held and shareholders of National Gold Corporation will receive one common share of Alamos Gold Inc. for every 2.352 common shares of National Gold held. All valid rights to acquire common shares of Alamos Minerals or National Gold will be replaced by comparable convertible securities of Alamos Gold on an adjusted basis. This merger ratio (effectively .85 National Gold to 1 Alamos Minerals) is confirmed as fair by Robert McKnight of Finisterre Holdings Inc., the independent valuator retained by the Companies to provide a fairness opinion. - - - - - PRICING: .Date. ..AAS.. .x0.85. ..NGT.. ..ALA.. 01.03. .$0.42. .$0.357 .$0.36. .$0.84. There will be about 30mn shs O/S post-merger, so the current "indicated" price,values ALA at: C$25.2 million |
Posted at 04/1/2003 18:53 by energyi Merger: Alamos (v.AAS) & National Gold (v.NGT)...to be voted, 24 Jan.20031 Alamos Gold AGI) = 2.0 AAS = 2.352 NGT, effective: Feb.17, 2003 (plan) So $1.00 for v.AGI= $0.425 for v.NGT ... x1.20= $0.51 The Unofficial ALAMOS GOLD Chatboard ... Alamos Minerals, (v.AAS) became... : 1/2 share of Alamos Gold.(v.AGI) : Alamos Minerals (AAS), Daily Chart AAS,Monthly Compare NGT (brown line) with AAS: Initially,will be 29.367 Million shares outstanding, plus wts. & options: MKT.CAP: say, 35 mn.shs f.d. (check this) 35 xC$0.84=C$$25mn=US$1 GOLD: 1.8mn. oz. at Estrella : $17mn/ 1.8mn= US$9.25 /oz. Gold Whoops! The real shocker is the number of warrants outstanding: AAS: 12.52mn= 6.19mn at $0.20, 1.12mn at $0.28, 5.2mn at $0.45 NGT: 10.72mn at various: incl. 2.5mn at $0.25, 4.2mn at $0.40 ALA: 12.52/2 + 10.72/2.35 = 6.71+4.56= 11.27mn wts. --------- MANAGEMENT DISCUSSION & ANALYSIS Occurring just subsequent to the end of the 3rd. Quarter the most significant development for the Company was the announcement of the intent of National Gold Corporation & Alamos Minerals Ltd. to merge the two companies as Alamos Gold Corporation at a ratio of one Alamos Gold share for each two Alamos Minerals shares held and one Alamos Gold for each 2.35 National Gold shares held. This agreement was announced on October 18th, 2002. The two companies are conducting their due diligence and a fairness opinion will be provided after which they will seek approval from their respective boards, shareholders and the regulatory authorities. National Gold embraces the merger, as it will result in operating efficiencies and a consolidation of the ownership of the Mulatos deposit which management believes will result in a better valuation of the deposit for the shareholders of the companies. The merged company will be lead by Chester Millar a well known 'mine builder'and financier. Mr. Millar was a principal and founder of Glamis Gold. As a pioneer in heap leach technology Mr. Millar built and financed the first heap leach mine for Glamis in the state of California. Mr. Millar was also a founding shareholder of Eldorado bringing its first mine, La Colorada into production. La Colorada is in the state of Sonora, Mexico the same state that the Mulatos deposit is located. Mr. Millar is also known for the discovery of the Afton copper-gold deposit in southern British Columbia During the third quarter the Company completed two financings: The first was a $0.45 per unit 3.3 million unit Short Form Offering (the 'SFO') completed by Canaccord Capital Corporation. Each unit consisted of one free trading share and one free trading share purchase warrant. Each two Two warrants plus $0.55 entitle the holder to purchase one additional free trading share until June 21st, 2003 at an exercise price of $0.55 per share. As part of an agency agreement and for services provided Canaccord received 500,000 share purchase warrants exercisable into one common share of National at $.40/share until May 7th, 2004. For completing the SFO Canaccord received 500,000 broker warrants exercisable into common shares at a price of $0.55/share until June 6th, 2003. On July 3rd, 2002 a private placement was announced for 1,750,000 units at $0.55/unit. As a result of market conditions the issue was later repriced as 1,905,333 units at $0.45/unit with 1,546,833 non flow-through Units consisting of one common share of the Company and one full warrant to purchase an additional common share at $0.55 during the first year of its two year term and $0.65 during the second year, and 358,500 Flow Through Units consisting of one common share of the Company and one-half non-flow-through warrant with each full warrant entitling the holder to purchase an additional common share at $0.55 during the first year of its two year term and $0.65 during the second year. On October 18th, 2002 the Company announced it had entered into a convertible debenture agreement with Alamos Minerals Ltd. for C$675,000. The debenture is convertible into common shares of National Gold at a price of $.29 per share. Upon conversion Alamos has the right to appoint three directors to National's board. The debenture carries interest at 1% per month payable annually and is due on October 17th,2003. - - - Chester Millar, 75, a legendary mine developer who discovered Afton and pioneered heap leaching through Glamis Gold... - - - - - OWNS: La Fortuna Concessions (Mex.) Salamandra Concessions (Mex.): Mulattos, remote area of Sierra Madre Mtns., includes the high-grade Estrella Zone (511drill holes: 96,124 meters: 2001/02) - -Estrella, "the starter pit"- - "The Estrella Development Alternative pit contains a total of 32.0 million tonnes of measured and indicated resources at an average grade of 1.77 grams of gold per tonne plus 26.6 million tonnes of waste material resulting in a stripping ratio of 0.83:1.0 (tonnes waste:tonnes ore)... The open pit contains approximately 1.8 million ounces of gold" - - - ROYALTY on Purchase of Salamandra: On August 21 (2001) National Gold announced a revised deal whereby all but $250,000 is due in 2008 and 2010 unless the gold price goes up. A total of $2.75 million becomes due 60 days after the date the nine month trailing average price of goal hits US $300 per ounce. If the nine month trailing average is $325, the remaining balance of $7.5 million will be due 90 days after October 1, 2004. The NSR is now a sliding scale royalty that slides from 1% below $300 to 5% above $400. --------- LINKS: NGT thread at Stkhse: Historical AAS price data: - - - Stockhouse BB's: AAS: NGT: IHub's BB: |
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