Regarding Insider Sell or Not Sell or "Not as bad as it seems Sell":
CNN Money:
$1.7M of MUX sold by Allen Ambrose
TORONTO, ONTARIO, CANADA — Allen Ambrose sold 300,000 shares of Mcewen Mining Inc stock, or $1,697,271 worth, as noted in an SEC Filing today. As reported in the filing, the transactions occurred between February 6, 2012 - February 7, 2012. After the transaction, Allen Ambrose's stake was reported as 334,500 shares of Mcewen Mining Inc stock (a 47% decrease from before the transaction took place). Allen Ambrose's title was listed as "Director" at Mcewen Mining Inc within the filing. As noted on February 8, 2012, Allen Ambrose's sale was done directly over 8 transactions from February 6, 2012 to February 7, 2012. The share price ranged from $5.65 to $5.69 according to the regulatory filing detailing the transactions. If we look over the past 12 months, Allen Ambrose has sold a total of 300,000 shares of Mcewen Mining Inc, proceeds from the sale totaled $1,697,271. Over the same time period, Allen Ambrose has purchased no shares of Mcewen Mining Inc stock. Allen Ambrose has also performed other transactions including exercise of options . Let's take a quick, high-level look at insider trading at Mcewen Mining Inc over the past 12 months. A total of 374,000 shares of Mcewen Mining Inc stock was sold by insiders, totaling $2,189,051. Over the same time 12 month time period, 9,201,000 shares of Mcewen Mining Inc, for a total value of $59,806,500 were purchased by company insiders. To view the complete SEC Filing: Mcewen Mining Inc 4 (Insider Trading) SEC Filing
We do not imply here that it is the end of the world in any way, it is just another fact to consider among many others.
JW if we do not mistaken you were posting on MAI board quite actively and have a very good knowledge about Minera Andes assets and Los Azules litigation, including those "nasty emails"?
The point is the litigation will not go away just by the means of not discussing it, missing some of the facts or not knowing them. The problem has grown already from the very small one to the substantial potential risk for the McEwen Mining.
We advocate only one thing that all publicly available information will be available to all involved shareholders. They are smart enough to make their own decisions.
Majority of shareholders have heard about the litigation for the first time in January and even some of them were still discussing the "information" that TNR Gold, McEwen Mining and Xstrata are fighting for the piece of bare land without any mineralization on it. Minera Andes Los Azules maps: http://bit.ly/yusMeu# Regards,
McEwen Mining Next In Line For The Billion Dollar Mining Club [View article]
Bbay,
It is not stupid question at all. The situation is very complicated.
It is important that all investors have all available facts to consider before applying valuations to the particular stock or the company.
Los Azules is very important part of McEwen Mining, which can provide instant boost to the company in case if litigation is resolved.
How will it be resolved we do not know. Nobody of our team is with legal background and we provide only known to us public information for investors' consideration and DD.
We can see a few scenarios - you can add and consider as many as you like as well.
1. TNR Gold will lose on all litigation claims. Company's market cap is 10 mln - nothing is priced from Los Azules in it, in our opinion. TNR is claiming to RETURN its former Los Azules properties back. McEwen Mining is claiming that it owns 100% of Los Azules. 2. TNR Gold wins its main claim and up to 2/3 of the deposit value will be transferred to TNR. McEwen Mining is losing this part of the deposit. 3. TNR Gold wins on 25% back in right: either by rectification of the agreement or by waiving feasibility study. It will pay double the exploration cost for 12.5% of the Los Azules (could be up to 15% of value as high grade core is located on former TNR property - Northern Half of the deposit). 3. TNR Gold wins to confirm its ownership to Escorpio IV.
Every litigation has a legal risk and all involved parties should decide about the probabilities of the outcomes.
TNR has proposed to settle for 125 mln just before McEwen Mining merger, now this offer is off the table.
McEwen Mining can run the risk of potential negative outcome and losing of up to 2/3 of the deposit or it can try to settle with TNR Gold.
Xstrata is the wild card here: they have passed on option for 51% of Los Azules in 2009 for 3 times exploration cost payment and now they are part of the litigation without any potential upside.
They can come back and buy out Los Azules from McEwen Mining and clear the mess. They will have to make a settlement with TNR to make it.
Third party can come and buy out Los Azules. They will have to make a settlement with TNR to make it.
TNR Gold could be an M&A target in order to get control of Los Azules by McEwen Mining, Xstrata or any other third party. TNR is very tightly controlled, Nova Gold and Barrick Gold among shareholders with Canada Zinc Metals, backed by Chinese Tongling, plus funds. There is a price for everything in business, we guess.
What will happen we do not know, but do not miss the main claim and all circumstances, read the documents for yourself: 25% back in right is only part of the litigation now. TNR claims that all former TNR properties - Northern Half of the Los Azules - to be returned back.
It is important that all investors have all available facts to consider before applying valuations to the particular stock or the company.
Los Azules is very important part of McEwen Mining, which can provide instant boost to the company in case if litigation is resolved.
How will it be resolved we do not know. Nobody of our team is with legal background and we provide only known to us public information for investors' consideration and DD.
We can see a few scenarios - you can add and consider as many as you like as well.
1. TNR Gold will lose on all litigation claims. Company's market cap is 10 mln - nothing is priced from Los Azules in it, in our opinion. TNR is claiming to RETURN its former Los Azules properties back. McEwen Mining is claiming that it owns 100% of Los Azules. 2. TNR Gold wins its main claim and up to 2/3 of the deposit value will be transferred to TNR. McEwen Mining is losing this part of the deposit. 3. TNR Gold wins on 25% back in right: either by rectification of the agreement or by waiving feasibility study. It will pay double the exploration cost for 12.5% of the Los Azules (could be up to 15% of value as high grade core is located on former TNR property - Northern Half of the deposit). 3. TNR Gold wins to confirm its ownership to Escorpio IV.
Every litigation has a legal risk and all involved parties should decide about the probabilities of the outcomes.
TNR has proposed to settle for 125 mln just before McEwen Mining merger, now this offer is off the table.
McEwen Mining can run the risk of potential negative outcome and losing of up to 2/3 of the deposit or it can try to settle with TNR Gold.
Xstrata is the wild card here: they have passed on option for 51% of Los Azules in 2009 for 3 times exploration cost payment and now they are part of the litigation without any potential upside.
They can come back and buy out Los Azules from McEwen Mining and clear the mess. They will have to make a settlement with TNR to make it.
Third party can come and buy out Los Azules. They will have tomake a settlement with TNR to make it.
TNR Gold could be an M&A target in order to get control of Los Azules by McEwen Mining, Xstrata or any other third party. TNR is very tightly controlled, Nova Gold and Barrick Gold among shareholders with Canada Zinc Metals, backed by Chinese Tongling, plus funds. There is a price for everything in business, we guess.
http://bit.ly/yusMeu# What will happen we do not know, but do not miss the main claim and all circumstances, read the documents for yourself: 25% back in right is only part of the litigation now. TNR claims that all former TNR properties - Northern Half of the Los Azules - to be returned back.
"Found more for all interested, it is quite a read, like a movie script:
Allen Ambrose emails:
24. "Next we should look at our alternatives to take out the Solitario (TNR Gold - S) agreement..."
TNR Gold vs Minera Andes (McEwen Mining now) and MIM (Xstrata now). From Page 11
Canadian Goldbug Stakes His Name On McEwen Mining: The Battle Of Los Azules: TNR Gold Vs McEwen Mining In Copper Showdown With Xstrata Tnr.v, Ilc.v, Czx.v. Mux, Mai.v, Uxg, Xta.l, Abx, Ng, Gg, Bhp, Vale, Fcx, Abx, Ng, Tck, Kgc, Rio, Nem, Swc, Anto.l, [View instapost]
Found more on Los Azules litigation and Allen Ambrose CEO of Minera Andes at that time, it is quite a read, like a movie script:
Allen Ambrose emails:
24. "Next we should look at our alternatives to take out the Solitario (TNR Gold - S) agreement..."
TNR Gold vs Minera Andes (McEwen Mining now) and MIM (Xstrata now). From Page 11
McEwen Mining Next In Line For The Billion Dollar Mining Club [View article]
MDGTO,
We have understood from MAI maps that high grade core is on former TNR Gold properties - in case of legal victory on the main TNR Gold claim McEwen Mining can potentially lose Northern Half of the deposit, which can represent up to 2/3 of the insitu metal.
Nothing is misleading with insiders buying - TNR insiders were buying 2.5 mln plus last fall and before all 2011 they were buying as well.
This story is still under the radar screen now - majority of McEwen Mining shareholders does not even know about the litigation.
Stakes will be getting higher, drills are on Los Azules - deposit will grow further now and Copper is rising back to 4 dollars again.
Litigation has started from 25% back in right and TNR proposed to pay 5 mlin for 12.5% of the Los Azules to back in April 2010. It was rejected, now 2/3 of the deposit is at stake.
TNR has announced proposal for settlement, but now it is off the table:
TNR Gold Offers To Settle Los Azules Litigation With Minera Andes For Us$125 Million
We think that it is smart move on your part to own TNR as a hedge against litigation.
On the selling by Allen Ambrose - how else would you call it now? It is filed as insider Sale, not Buy. Before that he sold almost his entire position in Minera Andes. If he was totally bullish, particularly on Los Azules litigation, he would keep all his position, litigation trial is so close now and Los Azules supposed to be a so Big Copper according to McEwen Mining presentation.
He has exercised options and sold half of his shares now, just out of the gate for McEwen Mining - it is not buying for sure.
As we have mentioned: it could be nothing - it could be everything.
According to TNR's claim published on its website, emails between Allen Ambrose and Xstrata has led TNR's litigation team to the claims that both companies were trying "to take TNR out of the game."
Canadian Goldbug Stakes His Name On McEwen Mining: The Battle Of Los Azules: TNR Gold Vs McEwen Mining In Copper Showdown With Xstrata Tnr.v, Ilc.v, Czx.v. Mux, Mai.v, Uxg, Xta.l, Abx, Ng, Gg, Bhp, Vale, Fcx, Abx, Ng, Tck, Kgc, Rio, Nem, Swc, Anto.l, [View instapost]
We some interesting update today:
James Goodwin has wrote an article McEwen Mining Silver Mining, he has background in law and is considering to write about the Los Azules litigation.
We would like to share this new information.
James,
It will be great!
We have covered this story for years, but nobody in our team is with the law background.
You can find deposit maps, Los Azules presentations from Minera Andes and links to TNR Gold website where they have provided all latest BC court documents here:
McEwen mining is very modest with any information on litigation, but you can try your luck there!
Another interesting information has transpired lately.
Alan Ambrose former CEO of Minera Andes has sold recently 300,000 shares of McEwen Mining. Before he was selling almost all his stake in Minera Andes.
He was the key person in all period covering litigation of relationship with TNR Gold and some of his emails with Xstrata are exposed by TNR Gold in latest Claim filing, when Judge has allowed the new claim for Northern Half of the Los Azules deposit to be returned back to TNR.
It could be nothing it could be everything.
In any case he is taking his chips off the table, when TNR Gold insiders are buying millions of shares from last fall.
Rob's problem, as we see it is that it was Alan who was running Minera Andes and get into all that mess with Los Azules and TNR Gold, Rob came only in 2007 into the picture.
IR at TNR Gold told us that the company is now in discovery stage in preparation to the trial, when more documents and witnesses will be presented.
We guess Alan Ambrose will be one of them.
Question is quite simple now: whether Rob can afford to ride blindfolded into the risk of losing up to 2/3 of Los Azules, when his key man in charge at that time sold off his stake and he is supposed to be the line in litigation defense as we imagine?
BNN: Los Azules: Rob McEwen on U.S. Gold and Minera Andes Proposed Merger and its valuation tnr.v, ilc.v, mai.to, tck, cuu.v, czx.v, lun.to, bwr.to, cs.to, imn.to, ncu.to, tko.to, wrn.to, qux.to, bls.to, bhp, fcx [View instapost]
Can not argue with you, Retire Fund.
We have some update now:
James Goodwin has wrote an article McEwen Mining Silver Mining, he has background in law and is considering to write about the Los Azules litigation.
We would like to share this new information.
James,
It will be great!
We have covered this story for years, but nobody in our team is with the law background.
You can find deposit maps, Los Azules presentations from Minera Andes and links to TNR Gold website where they have provided all latest BC court documents here:
McEwen mining is very modest with any information on litigation, but you can try your luck there!
Another interesting information has transpired lately.
Alan Ambrose former CEO of Minera Andes has sold recently 300,000 shares of McEwen Mining. Before he was selling almost all his stake in Minera Andes.
He was the key person in all period covering litigation of relationship with TNR Gold and some of his emails with Xstrata are exposed by TNR Gold in latest Claim filing, when Judge has allowed the new claim for Northern Half of the Los Azules deposit to be returned back to TNR.
It could be nothing it could be everything.
In any case he is taking his chips off the table, when TNR Gold insiders are buying millions of shares from last fall.
Rob's problem, as we see it is that it was Alan who was running Minera Andes and get into all that mess with Los Azules and TNR Gold, Rob came only in 2007 into the picture.
IR at TNR Gold told us that the company is now in discovery stage in preparation to the trial, when more documents and witnesses will be presented.
We guess Alan Ambrose will be one of them.
Question is quite simple now: whether Rob can afford to ride blindfolded into the risk of losing up to 2/3 of Los Azules, when his key man in charge at that time sold off his stake and he is supposed to be the line in litigation defense as we imagine?
McEwen Mining's Next Stop Is The S&P 500 [View article]
DT,
James Goodwin has wrote an article McEwen Mining Silver Mining, he has background in law and is considering to write about the Los Azules litigation.
We would like to share this new information.
James,
It will be great!
We have covered this story for years, but nobody in our team is with the law background.
You can find deposit maps, Los Azules presentations from Minera Andes and links to TNR Gold website where they have provided all latest BC court documents here:
McEwen mining is very modest with any information on litigation, but you can try your luck there!
Another interesting information has transpired lately.
Alan Ambrose former CEO of Minera Andes has sold recently 300,000 shares of McEwen Mining. Before he was selling almost all his stake in Minera Andes.
He was the key person in all period covering litigation of relationship with TNR Gold and some of his emails with Xstrata are exposed by TNR Gold in latest Claim filing, when Judge has allowed the new claim for Northern Half of the Los Azules deposit to be returned back to TNR.
It could be nothing it could be everything.
In any case he is taking his chips off the table, when TNR Gold insiders are buying millions of shares from last fall.
Rob's problem, as we see it is that it was Alan who was running Minera Andes and get into all that mess with Los Azules and TNR Gold, Rob came only in 2007 into the picture.
IR at TNR Gold told us that the company is now in discovery stage in preparation to the trial, when more documents and witnesses will be presented.
We guess Alan Ambrose will be one of them.
Question is quite simple now: whether Rob can afford to ride blindfolded into the risk of losing up to 2/3 of Los Azules, when his key man in charge at that time sold off his stake and he is supposed to be the line in litigation defense as we imagine?
McEwen Mining Next In Line For The Billion Dollar Mining Club [View article]
Simit,
Games Goodwin has wrote an article McEwen Mining Silver Mining, he has background in law and is considering to write about the Los Azules litigation.
We would like to share this note resting new information.
James,
It will be great!
We have covered this story for years, but nobody in our team is with the law background.
You can find deposit maps, Los Azules presentations from Minera Andes and links to TNR Gold website where they have provided all latest BC court documents here:
McEwen mining is very modest with any information on litigation, but you can try your luck there!
Another interesting information has transpired lately.
Alan Ambrose former CEO of Minera Andes has sold recently 300,000 shares of McEwen Mining. Before he was selling almost all his stake in Minera Andes.
He was the key person in all period covering litigation of relationship with TNR Gold and some of his emails with Xstrata are exposed by TNR Gold in latest Claim filing, when Judge has allowed the new claim for Northern Half of the Los Azules deposit to be returned back to TNR.
It could be nothing it could be everything.
In any case he is taking his chips off the table, when TNR Gold insiders are buying millions of shares from last fall.
Rob's problem, as we see it is that it was Alan who was running Minera Andes and get into all that mess with Los Azules and TNR Gold, Rob came only in 2007 into the picture.
IR at TNR Gold told us that the company is now in discovery stage in preparation to the trial, when more documents and witnesses will be presented.
We guess Alan Ambrose will be one of them.
Question is quite simple now: whether Rob can afford to ride blindfolded into the risk of losing up to 2/3 of Los Azules, when his key man in charge at that time sold off his stake and he is supposed to be the line in litigation defense as we imagine?
We have covered this story for years, but nobody in our team is with the law background.
You can find deposit maps, Los Azules presentations from Minera Andes and links to TNR Gold website where they have provided all latest BC court documents here:
McEwen mining is very modest with any information on litigation, but you can try your luck there!
Another interesting information has transpired lately.
Alan Ambrose former CEO of Minera Andes has sold recently 300,000 shares of McEwen Mining. Before he was selling almost all his stake in Minera Andes.
He was the key person in all period covering litigation of relationship with TNR Gold and some of his emails with Xstrata are exposed by TNR Gold in latest Claim filing, when Judge has allowed the new claim for Northern Half of the Los Azules deposit to be returned back to TNR.
It could be nothing it could be everything.
In any case he is taking his chips off the table, when TNR Gold insiders are buying millions of shares from last fall.
Rob's problem, as we see it is that it was Alan who was running Minera Andes and get into all that mess with Los Azules and TNR Gold, Rob came only in 2007 into the picture.
IR at TNR Gold told us that the company is now in discovery stagy in preparation to the trial, when more documents and witnesses will be presented.
We guess Alan Ambrose will be one of them.
Question is quite simple now: whether Rob can afford to ride blindfolded into the risk of losing up to 2/3 of Los Azules, when his key man in charge at that time sold off his stake and he is suppose to be the line in litigation defense as we imagine?
The Xstrata/Glencore Merger Could Put These Copper Miners In Play [View article]
Very good observations Bret.
We will throw another curved ball here for your ideas.
Xstrata is a part of litigation now for Los Azules - huge copper deposit in Argentina, which they used to own in part.
We think that Xstrata has a very good chances to comeback and try to buy out Los Azules from McEwen Mining.
At the moment Xstrata is at the potential legal risk of damages for McEwen mining in case if they lose the litigation to TNR Gold.
Litigation downside is without any upside potential here - they decided not to keep the project before, guess why?
Buying the Los Azules will clear the mess and TNR Gold can hold the keys to this deal now.
So far you can not find a lot of information about the litigation on McEwen Mining website. Trial is coming up in November and has made quite a few headlines already.
Pending merger between Xstrata and Glencore is another wild card in this game. Los Azules will be sold to majors, but the title should cleared first from litigation. The risk now is to lose 2/3 of the Los Azules deposit.
McEwen Mining has the great potential and its future depends on wise decisions now. One of the potential Catalyst is Los Azules litigation. What choice Rob McEwen will make now?
To make the full picture we will share some additional information:
"In order to have one of the "largest litigation cases in the history of BC Supreme Court" you need one of the largest Copper deposits in the world, very big ambitions and bunch of emails describing the way of thinking how to get it all and "take out of the game" the junior partner. Now US Gold shareholders will join the litigation lawyers' party after the merger with Minera Andes. We continue to monitor the situation and implications for the newly listed in the US McEwen Mining.
After the completed take over of Minera Andes by US Gold, McEwen Mining will become the party of litigation. Damage control at the expense of Minera Andes shareholders will give some room now to McEwen Mining - combined company can better withstand the litigation risk of potential lost of up to 2/3 of Los Azules deposit, which high grade core is located on former TNR Gold properties, according to the published by Minera Andes maps. TNR Gold's offer for the settlement is off the table now and the key to ongoing litigation will be further discoveries and called witnesses in preparation to the trial. Things will be getting very interesting now. One of the questions to discover is why Xstrata has decided not to exercise its own option for 51% of Los Azules with Minera Andes?
"We must admit, that all this time we were at lost why has Xstrata decided not to exercise its own option with Minera Andes for 51% of all Los Azules in October 2009? Why has the Copper company like Xstrata decided just to walk away from such a deposit like Los Azules, when copper market was turning up with the recovering economy? Does Rob McEwen really think that he outsmarted Xstrata for the free gift here? Now we have some indications that, maybe, TNR Gold litigation team has found the real reasons behind Xstrata's move out of the project."
We have an interesting take from Joel Chury at VantageWire.com on Los Azules litigation. The story is making its way into the mainstream media now, we have been covering it here for years and hope that this year will bring the resolution to this case, which is simply too big to miss now."
McEwen Mining's Silver Lining [View article]
Regarding Insider Sell or Not Sell or "Not as bad as it seems Sell":
CNN Money:
$1.7M of MUX sold by Allen Ambrose
TORONTO, ONTARIO, CANADA — Allen Ambrose sold 300,000 shares of Mcewen Mining Inc stock, or $1,697,271 worth, as noted in an SEC Filing today. As reported in the filing, the transactions occurred between February 6, 2012 - February 7, 2012.
After the transaction, Allen Ambrose's stake was reported as 334,500 shares of Mcewen Mining Inc stock (a 47% decrease from before the transaction took place). Allen Ambrose's title was listed as "Director" at Mcewen Mining Inc within the filing.
As noted on February 8, 2012, Allen Ambrose's sale was done directly over 8 transactions from February 6, 2012 to February 7, 2012. The share price ranged from $5.65 to $5.69 according to the regulatory filing detailing the transactions.
If we look over the past 12 months, Allen Ambrose has sold a total of 300,000 shares of Mcewen Mining Inc, proceeds from the sale totaled $1,697,271. Over the same time period, Allen Ambrose has purchased no shares of Mcewen Mining Inc stock. Allen Ambrose has also performed other transactions including exercise of options .
Let's take a quick, high-level look at insider trading at Mcewen Mining Inc over the past 12 months. A total of 374,000 shares of Mcewen Mining Inc stock was sold by insiders, totaling $2,189,051. Over the same time 12 month time period, 9,201,000 shares of Mcewen Mining Inc, for a total value of $59,806,500 were purchased by company insiders.
To view the complete SEC Filing: Mcewen Mining Inc 4 (Insider Trading) SEC Filing
http://cnnmon.ie/zniupz#
We do not imply here that it is the end of the world in any way, it is just another fact to consider among many others.
JW if we do not mistaken you were posting on MAI board quite actively and have a very good knowledge about Minera Andes assets and Los Azules litigation, including those "nasty emails"?
The point is the litigation will not go away just by the means of not discussing it, missing some of the facts or not knowing them. The problem has grown already from the very small one to the substantial potential risk for the McEwen Mining.
We advocate only one thing that all publicly available information will be available to all involved shareholders. They are smart enough to make their own decisions.
Majority of shareholders have heard about the litigation for the first time in January and even some of them were still discussing the "information" that TNR Gold, McEwen Mining and Xstrata are fighting for the piece of bare land without any mineralization on it.
Minera Andes Los Azules maps:
http://bit.ly/yusMeu#
Regards,
McEwen Mining Next In Line For The Billion Dollar Mining Club [View article]
It is not stupid question at all. The situation is very complicated.
It is important that all investors have all available facts to consider before applying valuations to the particular stock or the company.
Los Azules is very important part of McEwen Mining, which can provide instant boost to the company in case if litigation is resolved.
How will it be resolved we do not know. Nobody of our team is with legal background and we provide only known to us public information for investors' consideration and DD.
We can see a few scenarios - you can add and consider as many as you like as well.
1. TNR Gold will lose on all litigation claims. Company's market cap is 10 mln - nothing is priced from Los Azules in it, in our opinion. TNR is claiming to RETURN its former Los Azules properties back. McEwen Mining is claiming that it owns 100% of Los Azules.
2. TNR Gold wins its main claim and up to 2/3 of the deposit value will be transferred to TNR. McEwen Mining is losing this part of the deposit.
3. TNR Gold wins on 25% back in right: either by rectification of the agreement or by waiving feasibility study. It will pay double the exploration cost for 12.5% of the Los Azules (could be up to 15% of value as high grade core is located on former TNR property - Northern Half of the deposit).
3. TNR Gold wins to confirm its ownership to Escorpio IV.
Every litigation has a legal risk and all involved parties should decide about the probabilities of the outcomes.
TNR has proposed to settle for 125 mln just before McEwen Mining merger, now this offer is off the table.
McEwen Mining can run the risk of potential negative outcome and losing of up to 2/3 of the deposit or it can try to settle with TNR Gold.
Xstrata is the wild card here: they have passed on option for 51% of Los Azules in 2009 for 3 times exploration cost payment and now they are part of the litigation without any potential upside.
They can come back and buy out Los Azules from McEwen Mining and clear the mess. They will have to make a settlement with TNR to make it.
Third party can come and buy out Los Azules. They will have to make a settlement with TNR to make it.
TNR Gold could be an M&A target in order to get control of Los Azules by McEwen Mining, Xstrata or any other third party. TNR is very tightly controlled, Nova Gold and Barrick Gold among shareholders with Canada Zinc Metals, backed by Chinese Tongling, plus funds. There is a price for everything in business, we guess.
http://bit.ly/yusMeu#
What will happen we do not know, but do not miss the main claim and all circumstances, read the documents for yourself: 25% back in right is only part of the litigation now. TNR claims that all former TNR properties - Northern Half of the Los Azules - to be returned back.
McEwen Mining's Silver Lining [View article]
It is important that all investors have all available facts to consider before applying valuations to the particular stock or the company.
Los Azules is very important part of McEwen Mining, which can provide instant boost to the company in case if litigation is resolved.
How will it be resolved we do not know. Nobody of our team is with legal background and we provide only known to us public information for investors' consideration and DD.
We can see a few scenarios - you can add and consider as many as you like as well.
1. TNR Gold will lose on all litigation claims. Company's market cap is 10 mln - nothing is priced from Los Azules in it, in our opinion. TNR is claiming to RETURN its former Los Azules properties back. McEwen Mining is claiming that it owns 100% of Los Azules.
2. TNR Gold wins its main claim and up to 2/3 of the deposit value will be transferred to TNR. McEwen Mining is losing this part of the deposit.
3. TNR Gold wins on 25% back in right: either by rectification of the agreement or by waiving feasibility study. It will pay double the exploration cost for 12.5% of the Los Azules (could be up to 15% of value as high grade core is located on former TNR property - Northern Half of the deposit).
3. TNR Gold wins to confirm its ownership to Escorpio IV.
Every litigation has a legal risk and all involved parties should decide about the probabilities of the outcomes.
TNR has proposed to settle for 125 mln just before McEwen Mining merger, now this offer is off the table.
McEwen Mining can run the risk of potential negative outcome and losing of up to 2/3 of the deposit or it can try to settle with TNR Gold.
Xstrata is the wild card here: they have passed on option for 51% of Los Azules in 2009 for 3 times exploration cost payment and now they are part of the litigation without any potential upside.
They can come back and buy out Los Azules from McEwen Mining and clear the mess. They will have to make a settlement with TNR to make it.
Third party can come and buy out Los Azules. They will have tomake a settlement with TNR to make it.
TNR Gold could be an M&A target in order to get control of Los Azules by McEwen Mining, Xstrata or any other third party. TNR is very tightly controlled, Nova Gold and Barrick Gold among shareholders with Canada Zinc Metals, backed by Chinese Tongling, plus funds. There is a price for everything in business, we guess.
http://bit.ly/yusMeu#
What will happen we do not know, but do not miss the main claim and all circumstances, read the documents for yourself: 25% back in right is only part of the litigation now. TNR claims that all former TNR properties - Northern Half of the Los Azules - to be returned back.
"Found more for all interested, it is quite a read, like a movie script:
Allen Ambrose emails:
24. "Next we should look at our alternatives to take out the Solitario (TNR Gold - S) agreement..."
TNR Gold vs Minera Andes (McEwen Mining now) and MIM (Xstrata now).
From Page 11
Part 3: Legal Basis
http://bit.ly/xhdqag
Very interesting:
Oral Reasons for Judgment - just check out the estimation of claim value by Judge:
http://bit.ly/szDi35
Regards,
Canadian Goldbug Stakes His Name On McEwen Mining: The Battle Of Los Azules: TNR Gold Vs McEwen Mining In Copper Showdown With Xstrata Tnr.v, Ilc.v, Czx.v. Mux, Mai.v, Uxg, Xta.l, Abx, Ng, Gg, Bhp, Vale, Fcx, Abx, Ng, Tck, Kgc, Rio, Nem, Swc, Anto.l, [View instapost]
Allen Ambrose emails:
24. "Next we should look at our alternatives to take out the Solitario (TNR Gold - S) agreement..."
TNR Gold vs Minera Andes (McEwen Mining now) and MIM (Xstrata now).
From Page 11
Part 3: Legal Basis
http://bit.ly/xhdqag
Very interesting:
Oral Reasons for Judgment - just check out the estimation of claim value by Judge:
http://bit.ly/szDi35
Regards,
McEwen Mining Next In Line For The Billion Dollar Mining Club [View article]
We have understood from MAI maps that high grade core is on former TNR Gold properties - in case of legal victory on the main TNR Gold claim McEwen Mining can potentially lose Northern Half of the deposit, which can represent up to 2/3 of the insitu metal.
http://bit.ly/yusMeu#
Without litigation discount RBC and Raymond James has put valuations based on comparable transactions at 4 cents per lb of copper in the ground.
Los Azules has 12.5 billion lb of Cu plus some Gold and Silver - value based on 4 cents will be 500 mln.
More on valuations:
http://bit.ly/waYCU2#
Nothing is misleading with insiders buying - TNR insiders were buying 2.5 mln plus last fall and before all 2011 they were buying as well.
This story is still under the radar screen now - majority of McEwen Mining shareholders does not even know about the litigation.
Stakes will be getting higher, drills are on Los Azules - deposit will grow further now and Copper is rising back to 4 dollars again.
Litigation has started from 25% back in right and TNR proposed to pay 5 mlin for 12.5% of the Los Azules to back in April 2010. It was rejected, now 2/3 of the deposit is at stake.
TNR has announced proposal for settlement, but now it is off the table:
TNR Gold Offers To Settle Los Azules Litigation With Minera Andes For Us$125 Million
http://bit.ly/waYCU2#
Market cap of TNR at this moment is 10 mln.
Everybody should read original documents filed in court and make their own DD and conclusions here.
McEwen Mining's Next Stop Is The S&P 500 [View article]
Found more for all interested, it is quite a read, like a movie script:
Allen Ambrose emails:
24. "Next we should look at our alternatives to take out the Solitario (TNR Gold - S) agreement..."
TNR Gold vs Minera Andes (McEwen Mining now) and MIM (Xstrata now).
From Page 11
Part 3: Legal Basis
http://bit.ly/xhdqag
Very interesting:
Oral Reasons for Judgment - just check out the estimation of claim value by Judge:
http://bit.ly/szDi35
Regards,
McEwen Mining Next In Line For The Billion Dollar Mining Club [View article]
Found more for all interested, it is quite a read, like a movie script:
Allen Ambrose emails:
24. "Next we should look at our alternatives to take out the Solitario (TNR Gold - S) agreement..."
TNR Gold vs Minera Andes (McEwen Mining now) and MIM (Xstrata now).
From Page 11
Part 3: Legal Basis
http://bit.ly/xhdqag
Very interesting:
Oral Reasons for Judgment - just check out the estimation of claim value by Judge:
http://bit.ly/szDi35
Regards,
McEwen Mining's Silver Lining [View article]
Found more for all interested, it is quite a read, like a movie script:
Allen Ambrose emails:
24. "Next we should look at our alternatives to take out the Solitario (TNR Gold - S) agreement..."
TNR Gold vs Minera Andes (McEwen Mining now) and MIM (Xstrata now).
From Page 11
Part 3: Legal Basis
http://bit.ly/xhdqag
Very interesting:
Oral Reasons for Judgment - just check out the estimation of claim value by Judge:
http://bit.ly/szDi35
Regards,
McEwen Mining's Silver Lining [View article]
On the selling by Allen Ambrose - how else would you call it now? It is filed as insider Sale, not Buy. Before that he sold almost his entire position in Minera Andes. If he was totally bullish, particularly on Los Azules litigation, he would keep all his position, litigation trial is so close now and Los Azules supposed to be a so Big Copper according to McEwen Mining presentation.
He has exercised options and sold half of his shares now, just out of the gate for McEwen Mining - it is not buying for sure.
As we have mentioned: it could be nothing - it could be everything.
According to TNR's claim published on its website, emails between Allen Ambrose and Xstrata has led TNR's litigation team to the claims that both companies were trying "to take TNR out of the game."
http://bit.ly/yusMeu#
Canadian Goldbug Stakes His Name On McEwen Mining: The Battle Of Los Azules: TNR Gold Vs McEwen Mining In Copper Showdown With Xstrata Tnr.v, Ilc.v, Czx.v. Mux, Mai.v, Uxg, Xta.l, Abx, Ng, Gg, Bhp, Vale, Fcx, Abx, Ng, Tck, Kgc, Rio, Nem, Swc, Anto.l, [View instapost]
James Goodwin has wrote an article McEwen Mining Silver Mining, he has background in law and is considering to write about the Los Azules litigation.
We would like to share this new information.
James,
It will be great!
We have covered this story for years, but nobody in our team is with the law background.
You can find deposit maps, Los Azules presentations from Minera Andes and links to TNR Gold website where they have provided all latest BC court documents here:
http://bit.ly/yusMeu
McEwen mining is very modest with any information on litigation, but you can try your luck there!
Another interesting information has transpired lately.
Alan Ambrose former CEO of Minera Andes has sold recently 300,000 shares of McEwen Mining. Before he was selling almost all his stake in Minera Andes.
He was the key person in all period covering litigation of relationship with TNR Gold and some of his emails with Xstrata are exposed by TNR Gold in latest Claim filing, when Judge has allowed the new claim for Northern Half of the Los Azules deposit to be returned back to TNR.
It could be nothing it could be everything.
In any case he is taking his chips off the table, when TNR Gold insiders are buying millions of shares from last fall.
Rob's problem, as we see it is that it was Alan who was running Minera Andes and get into all that mess with Los Azules and TNR Gold, Rob came only in 2007 into the picture.
IR at TNR Gold told us that the company is now in discovery stage in preparation to the trial, when more documents and witnesses will be presented.
We guess Alan Ambrose will be one of them.
Question is quite simple now: whether Rob can afford to ride blindfolded into the risk of losing up to 2/3 of Los Azules, when his key man in charge at that time sold off his stake and he is supposed to be the line in litigation defense as we imagine?
Your take on all this will be appreciated.
Regards,
BNN: Los Azules: Rob McEwen on U.S. Gold and Minera Andes Proposed Merger and its valuation tnr.v, ilc.v, mai.to, tck, cuu.v, czx.v, lun.to, bwr.to, cs.to, imn.to, ncu.to, tko.to, wrn.to, qux.to, bls.to, bhp, fcx [View instapost]
We have some update now:
James Goodwin has wrote an article McEwen Mining Silver Mining, he has background in law and is considering to write about the Los Azules litigation.
We would like to share this new information.
James,
It will be great!
We have covered this story for years, but nobody in our team is with the law background.
You can find deposit maps, Los Azules presentations from Minera Andes and links to TNR Gold website where they have provided all latest BC court documents here:
http://bit.ly/yusMeu
McEwen mining is very modest with any information on litigation, but you can try your luck there!
Another interesting information has transpired lately.
Alan Ambrose former CEO of Minera Andes has sold recently 300,000 shares of McEwen Mining. Before he was selling almost all his stake in Minera Andes.
He was the key person in all period covering litigation of relationship with TNR Gold and some of his emails with Xstrata are exposed by TNR Gold in latest Claim filing, when Judge has allowed the new claim for Northern Half of the Los Azules deposit to be returned back to TNR.
It could be nothing it could be everything.
In any case he is taking his chips off the table, when TNR Gold insiders are buying millions of shares from last fall.
Rob's problem, as we see it is that it was Alan who was running Minera Andes and get into all that mess with Los Azules and TNR Gold, Rob came only in 2007 into the picture.
IR at TNR Gold told us that the company is now in discovery stage in preparation to the trial, when more documents and witnesses will be presented.
We guess Alan Ambrose will be one of them.
Question is quite simple now: whether Rob can afford to ride blindfolded into the risk of losing up to 2/3 of Los Azules, when his key man in charge at that time sold off his stake and he is supposed to be the line in litigation defense as we imagine?
Your take on all this will be appreciated.
Regards,
McEwen Mining's Next Stop Is The S&P 500 [View article]
James Goodwin has wrote an article McEwen Mining Silver Mining, he has background in law and is considering to write about the Los Azules litigation.
We would like to share this new information.
James,
It will be great!
We have covered this story for years, but nobody in our team is with the law background.
You can find deposit maps, Los Azules presentations from Minera Andes and links to TNR Gold website where they have provided all latest BC court documents here:
http://bit.ly/yusMeu
McEwen mining is very modest with any information on litigation, but you can try your luck there!
Another interesting information has transpired lately.
Alan Ambrose former CEO of Minera Andes has sold recently 300,000 shares of McEwen Mining. Before he was selling almost all his stake in Minera Andes.
He was the key person in all period covering litigation of relationship with TNR Gold and some of his emails with Xstrata are exposed by TNR Gold in latest Claim filing, when Judge has allowed the new claim for Northern Half of the Los Azules deposit to be returned back to TNR.
It could be nothing it could be everything.
In any case he is taking his chips off the table, when TNR Gold insiders are buying millions of shares from last fall.
Rob's problem, as we see it is that it was Alan who was running Minera Andes and get into all that mess with Los Azules and TNR Gold, Rob came only in 2007 into the picture.
IR at TNR Gold told us that the company is now in discovery stage in preparation to the trial, when more documents and witnesses will be presented.
We guess Alan Ambrose will be one of them.
Question is quite simple now: whether Rob can afford to ride blindfolded into the risk of losing up to 2/3 of Los Azules, when his key man in charge at that time sold off his stake and he is supposed to be the line in litigation defense as we imagine?
Your take on all this will be appreciated.
Regards,
McEwen Mining Next In Line For The Billion Dollar Mining Club [View article]
Games Goodwin has wrote an article McEwen Mining Silver Mining, he has background in law and is considering to write about the Los Azules litigation.
We would like to share this note resting new information.
James,
It will be great!
We have covered this story for years, but nobody in our team is with the law background.
You can find deposit maps, Los Azules presentations from Minera Andes and links to TNR Gold website where they have provided all latest BC court documents here:
http://bit.ly/yusMeu
McEwen mining is very modest with any information on litigation, but you can try your luck there!
Another interesting information has transpired lately.
Alan Ambrose former CEO of Minera Andes has sold recently 300,000 shares of McEwen Mining. Before he was selling almost all his stake in Minera Andes.
He was the key person in all period covering litigation of relationship with TNR Gold and some of his emails with Xstrata are exposed by TNR Gold in latest Claim filing, when Judge has allowed the new claim for Northern Half of the Los Azules deposit to be returned back to TNR.
It could be nothing it could be everything.
In any case he is taking his chips off the table, when TNR Gold insiders are buying millions of shares from last fall.
Rob's problem, as we see it is that it was Alan who was running Minera Andes and get into all that mess with Los Azules and TNR Gold, Rob came only in 2007 into the picture.
IR at TNR Gold told us that the company is now in discovery stage in preparation to the trial, when more documents and witnesses will be presented.
We guess Alan Ambrose will be one of them.
Question is quite simple now: whether Rob can afford to ride blindfolded into the risk of losing up to 2/3 of Los Azules, when his key man in charge at that time sold off his stake and he is supposed to be the line in litigation defense as we imagine?
Your take on all this will be appreciated.
Regards,
McEwen Mining's Silver Lining [View article]
It will be great!
We have covered this story for years, but nobody in our team is with the law background.
You can find deposit maps, Los Azules presentations from Minera Andes and links to TNR Gold website where they have provided all latest BC court documents here:
http://bit.ly/yusMeu
McEwen mining is very modest with any information on litigation, but you can try your luck there!
Another interesting information has transpired lately.
Alan Ambrose former CEO of Minera Andes has sold recently 300,000 shares of McEwen Mining. Before he was selling almost all his stake in Minera Andes.
He was the key person in all period covering litigation of relationship with TNR Gold and some of his emails with Xstrata are exposed by TNR Gold in latest Claim filing, when Judge has allowed the new claim for Northern Half of the Los Azules deposit to be returned back to TNR.
It could be nothing it could be everything.
In any case he is taking his chips off the table, when TNR Gold insiders are buying millions of shares from last fall.
Rob's problem, as we see it is that it was Alan who was running Minera Andes and get into all that mess with Los Azules and TNR Gold, Rob came only in 2007 into the picture.
IR at TNR Gold told us that the company is now in discovery stagy in preparation to the trial, when more documents and witnesses will be presented.
We guess Alan Ambrose will be one of them.
Question is quite simple now: whether Rob can afford to ride blindfolded into the risk of losing up to 2/3 of Los Azules, when his key man in charge at that time sold off his stake and he is suppose to be the line in litigation defense as we imagine?
Your take on all this will be appreciated.
Regards,
The Xstrata/Glencore Merger Could Put These Copper Miners In Play [View article]
We will throw another curved ball here for your ideas.
Xstrata is a part of litigation now for Los Azules - huge copper deposit in Argentina, which they used to own in part.
We think that Xstrata has a very good chances to comeback and try to buy out Los Azules from McEwen Mining.
At the moment Xstrata is at the potential legal risk of damages for McEwen mining in case if they lose the litigation to TNR Gold.
Litigation downside is without any upside potential here - they decided not to keep the project before, guess why?
Buying the Los Azules will clear the mess and TNR Gold can hold the keys to this deal now.
So far you can not find a lot of information about the litigation on McEwen Mining website. Trial is coming up in November and has made quite a few headlines already.
Pending merger between Xstrata and Glencore is another wild card in this game. Los Azules will be sold to majors, but the title should cleared first from litigation. The risk now is to lose 2/3 of the Los Azules deposit.
McEwen Mining has the great potential and its future depends on wise decisions now. One of the potential Catalyst is Los Azules litigation. What choice Rob McEwen will make now?
To make the full picture we will share some additional information:
"In order to have one of the "largest litigation cases in the history of BC Supreme Court" you need one of the largest Copper deposits in the world, very big ambitions and bunch of emails describing the way of thinking how to get it all and "take out of the game" the junior partner. Now US Gold shareholders will join the litigation lawyers' party after the merger with Minera Andes. We continue to monitor the situation and implications for the newly listed in the US McEwen Mining.
After the completed take over of Minera Andes by US Gold, McEwen Mining will become the party of litigation. Damage control at the expense of Minera Andes shareholders will give some room now to McEwen Mining - combined company can better withstand the litigation risk of potential lost of up to 2/3 of Los Azules deposit, which high grade core is located on former TNR Gold properties, according to the published by Minera Andes maps. TNR Gold's offer for the settlement is off the table now and the key to ongoing litigation will be further discoveries and called witnesses in preparation to the trial. Things will be getting very interesting now. One of the questions to discover is why Xstrata has decided not to exercise its own option for 51% of Los Azules with Minera Andes?
"We must admit, that all this time we were at lost why has Xstrata decided not to exercise its own option with Minera Andes for 51% of all Los Azules in October 2009? Why has the Copper company like Xstrata decided just to walk away from such a deposit like Los Azules, when copper market was turning up with the recovering economy? Does Rob McEwen really think that he outsmarted Xstrata for the free gift here? Now we have some indications that, maybe, TNR Gold litigation team has found the real reasons behind Xstrata's move out of the project."
We have an interesting take from Joel Chury at VantageWire.com on Los Azules litigation. The story is making its way into the mainstream media now, we have been covering it here for years and hope that this year will bring the resolution to this case, which is simply too big to miss now."
http://bit.ly/yusMeu#