Did you know?
You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.
Agoracom
The Small Cap Epicenter
The Small Cap Epicenter
AGORACOM WIRE - FRIDAY MAY 25TH, 2012
FOCUS METALS (TSXV:FMS) Changes Its Name to Focus Graphite Inc.
Read More | *SPONSOR
INTERNATIONAL PBX VENTURES (TSX:PBX) Signs Copaquire Joint Venture Option Agreement - $90M Potential Payment Read More
AGORACOM Maintenance Alert: Friday Evening Downtime for About an Hour Read More
LOMIKO METALS (TSXV:LMR) Graphite and Zinc Price Outlook is Favourable Through 2013 Read More | *SPONSOR
 |
 |
Dear Fellow Share Owners,
You will shortly receive in the mail a massive document: information circular/proxy statement along with a request for your vote to approve the combination of US Gold and Minera Andes. My name is Rob McEwen and I am the largest shareholder, Chairman and CEO of both companies. I own approximately 20% of the outstanding shares of US Gold and 30% of the outstanding shares of Minera Andes. In June 2011, I proposed this combination to the Boards of both companies based upon my belief that the combined company would be significantly stronger and better positioned to grow and prosper.
I do not take a salary from either company. I bought all of my shares. The cost of my investment is over $110 million and it is split approximately 45% US Gold and 55% Minera Andes. How will I make money? The same way as you, which is through a higher share price!
I am very sorry to say that since June the price performance of our shares and much of the junior gold market has been simply awful and financially painful for all of us! However, once you have approved the combination on January 19th I believe we will see the value of our shares begin to improve for the following reasons:
| - | Significant Near-Term Growth: The goal of the combined company is to significantly increase production as the El Gallo Complex comes online in Mexico and still remain at the bottom of the cost curve. |
| - | Exciting Exploration: Significant land packages adjoining US Gold's El Gallo Complex, Barrick's Cortez Mine, Minera Andes' San José Mine and Goldcorp's Cerro Negro project. |
| - | Resources (see table below): |
| Silver - Measured and Indicated 70 MMoz, Inferred 86.4 MMoz | |
| Gold - Measured and Indicated 5.3 MMoz, Inferred 1.2 MMoz | |
| Copper - Indicated 2.2 Billion pounds, Inferred 10.3 Billion pounds | |
| - | Market Capitalization: Combined market capitalization of approximately US$865 million (as at December 20, 2011) will create a combined company that possesses size and diversity of assets that should attract greater research coverage. |
|
- |
Listings: The combined company's shares would trade on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX). http://www.marketwire.com/press-release/rob-mcewen-letter-to-shareholders-of-us-gold-and-minera-andes-nyse-uxg-1600998.htm Regards Hg |
Please login to post a reply
Like Minera Andes? Then you might also be interested in Mistango River Resources
