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It's all speculation but either way I think AA must have put forward some sort of deal in principle that really benefits us. If Nick believes we have multiple tier 1 assets and we are cashed up for the next 2 or 3 years surely it would be better to spend some of that money ourselves to prove up the asset before agreeing to a deal. Keeping some aside so we don't end up in the same position as Sirius of course.
We could definitely do with some news but it will come eventually. Nick cut his salary so I doubt that's where the excitement is coming from. More likely the fact that the shares he holds will be worth multiples in a few months time.
To answer a couple of your questions we are funded for at least the next two years according to our finance director and we are actually renegotiating a previous asset sale in our favour.
This puts us in a very strong negotiating position so Anglo can offer whatever they want but we are in no rush to sell. There's also interest from other parties so this won't be going on the cheap.
Nick even mentioned not selling and getting in to production if it's in the interest of shareholders however this is definitely not something he wants to get involved in.
I personally think we will be bought out by Anglo. They've come back with intent after previously holding the licences. They won't want to throw this away again.
According to Vassili they will be carrying out work at their expense and have brought in a specialist who has previous experience in this area with FQM.
Are they really going to collect all that data and then leave it for another major?
Anything could happen of course but I think this is the most likely outcome. I expect them to make a good offer before the end of the exclusivity.
I think it's difficult to not be extremely bullish on Arc at the moment. We have a fantastic asset which a few majors have shown an interest in. We've already turned down offers according to the BoD which shows we will not let this go on the cheap. We're currently in an exclusivity agreement with the major that previously owned the licences! We've had a recent director buy on the open market and a huge amount of positivity from the BoD in general. Funded for at least the next two years with previous sales being renegotiated in our favour.
I'm not the most experienced investor and this is AIM so maybe I'm being naive but I will be hugely surprised if in 6 months time all investors(including those who bought at higher prices than we're currently at) are not in a better and probably much better position.
http://www.arcminerals.com/investors/share-information/default.aspx