Why is Aurico selling ElCupo for $200M when AUR?GAM shareholders paid $400M ??
Gammon lake first bought a 50% interest in Mexgold for $500,000.00. ( 5 cents a share)
Soon thereafter, Brad Langille a director of Gammon lake was made the President of Mexgold together with a couple other directors fm Gammon lake. They purchased an old mine ( El Cubo ) for 18 million dollars with monies borrowed fm BMO. BMO then arranged a private placement for 22,500,000 shares at @2.00 per share. Their fee for this service was the granting of almost one million Mexgold warrants @ $2.35. Mexgold shares soon reached the 60 million mark @ an average cost $1.31 per share. Insiders voted themselves million of dollars in options
Question: " why did Gammon now Aurico not buy El Cubo for $18 million instead of the over $ 400 million they paid & cost to Gammon shareholders" ( including OTPP
Always do your own DD