Re: Inspiration Announces Action to Increase Shareholder Value
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Welcome To The Inspiration Mining HUB On AGORACOM
The company is exploring for nickel deposits on its Langmuir property near Timmins, Ontario; for nickel-gold-copper on its Cleaver and Douglas properties; and for molybdenum and rare earth elements at recently acquired Desrosiers property.
Message: Re: Inspiration Announces Action to Increase Shareholder Value
On Oct 15th the company announced that it was teaming up with Clarus to investigate options for the shareholders to increase or unlock value. It seems that this latest Metal Mines has a mention of that same power phrase as well.
Is it safe to assume that this latest strategy may be a result of such a working relationship between Clarus and ISM management? I am only guessing now, but these guys were on board for some reason. We also know from the last NR on the Metal Mines spin out plans, that Langmuir as a whole will "constitute all or substantially all of the assets of the Company, the proposed divesture must be approved by the Company's shareholders."
More importantly:
"The proposed spin-out is subject to regulatory and shareholder approval and there can be no assurance that the proposed spin-out would be completed. The listing of Metal Mine's shares will be subject to Metal Mine meeting the listing criteria of the TSX and there can be no assurance that Metal Mines will meet the criteria."
So if it doesn't fly, it doesn't fly. I guess the "shareholders of record" will find out soon enough.
| October 15, 2009 - 10:57 AM EDT |
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Inspiration Retains Clarus Securities as Financial Advisor
TORONTO, ONTARIO, Oct. 15, 2009 (Marketwire) -- Inspiration Mining Corporation (the "Company")(TSX:ISM)(FRANKFURT:OI8) announces that it has retained Clarus Securities Inc. ("Clarus") to assist in a review of the Company's strategic alternatives to enhance value for the shareholders. Together with Clarus, the Company is reviewing all options that will enable it to unlock value. The Company is of the opinion that the current share price does not accurately reflect the true value of the Company's assets and accordingly is reviewing all of its options should an opportunistic party decide to take advantage of the low share price and launch a take over bid. One option being implemented is the adoption of a shareholders' rights plan ("SRP") which will protect the interests of the Company's shareholders. Any adoption of a SRP will require shareholder and TSX approval. Mr. Randy Miller, the President of the Company, states "We are excited about having Clarus as our partner as we look for opportunities to unlock the true value of the Company's assets. The current market cap is not indicative of the true intrinsic value of the Company and with the assistance of Clarus; we believe that we can unlock the real value of the Company's assets." The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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