Minera Andes

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#1 Wed, Jun 15, 2011 - 4:33am
Joined: Jun 15, 2011

Minera Andes

Minera Andes is in my opinion one of the best miners in the industry, and although it's not a pure silver miner, it should be put on the same list with the other top miners like First Majestic, Greath Panther, Endeaveour, Silvermex and Silver Weathon.

The CEO Rob McEwen is like the Warren Buffet of the mining industry. In the below clips he explains his views.

Part 1: https://www.youtube.com/watch?v=HlOMLG5rI6k

Part 2: https://www.youtube.com/watch?v=Sy_KwFKrw4E&feature=related

Part 3: https://www.youtube.com/watch?v=CpqlDPjRwSw&feature=related

At the current time MAI.TO is one of the cheapest miners there is. With a price of 2.17 today is valued at 12 times earnings, which is really cheap for a miner with such growth prospects.

Hope there are more shareholders here which can add to the discussion.

Edited by: Zwipped on Nov 8, 2014 - 5:10am
Wed, Aug 31, 2011 - 8:46pm
Joined: Jun 14, 2011

Minera Andes could be an

Minera Andes could be an interesting play -- don't know that much about it, but McEwen seems to have his head on straight. The next few months will be worth watching, and could be a good buy. Would like to hear what others think on this one.

Fri, Sep 2, 2011 - 10:30am infinite_easing
Joined: Jun 15, 2011

Timing for News Release

Not bad timing for this announcement


Update on Proposed Merger of US Gold and Minera Andes 09/02/2011 08:43 AM ET

TORONTO, ONTARIO, Sep 02, 2011 (MARKETWIRE via COMTEX News Network) -- US Gold Corporation (NYSE: UXG)(TSX: UXG) and Minera Andes Inc.
(TSX: MAI)(OTCBB: MNEAF) are pleased to provide an update on the
proposed merger of US Gold and Minera Andes. Following the June 14,
2011 announcement of Rob McEwen's proposal to merge US Gold and
Minera Andes, each of the companies' boards of directors established
an independent special committee to consider the proposed merger and
each of the companies has been conducting due diligence on the other.
Each of the special committee of Minera Andes and US Gold has
retained independent financial advisors and legal counsel and has
been considering the transaction, with input from those advisors.

Based upon the input of their independent financial advisors, each
special committee has directed its legal counsel to continue due
diligence and begin negotiation of binding transaction agreements at
a ratio of 0.45 of a US Gold common share for each 1.0 Minera Andes
common share held. This is a change from the exchange ratio of 0.40
of a US Gold common share for each 1.0 Minera Andes share originally
proposed by Mr. McEwen. The board of directors of each company has
agreed in principle to the new exchange ratio, subject to
satisfactory completion of remaining due diligence and negotiation of
satisfactory binding transaction agreements.

Each of US Gold and Minera Andes agrees in principle that any
agreement between them to effect the proposed merger will include
their respective agreements to pay a break fee equal to 3% of the
paying party's market capitalization, based on its closing share
price on September 1, 2011, to be payable in customary circumstances
and subject to the negotiation of satisfactory binding transaction
agreements. The market capitalization of US Gold is $834,075,977 and
the market capitalization of Minera Andes is $653,611,853, based on
their respective closing prices on September 1, 2011.

Mr. McEwen, Chairman, CEO, and largest shareholder of each company,
has agreed in principle to support the merger at the 0.45 exchange
ratio with a break fee in the above amount and to vote all of his US
Gold and Minera Andres shares in favor of the proposed merger,
subject to the satisfactory completion of remaining due diligence and
negotiation of satisfactory binding transaction agreements.

In addition to agreeing in principle on the amount of the break fee
as described above, each of US Gold and Minera Andes has agreed to
pay a break fee in the same amount, if the party enters into an
agreement to effect or support any competing transaction before the
earlier of (i) entering into a definitive agreement for the proposed
merger (ii) a party terminating negotiations and abandoning the
proposed merger as a result of an adverse due diligence finding,
(iii) a mutual good faith termination of discussions and (iv)
November 1, 2011, where the competing transaction would result in any
other person acquiring more than 50% of the outstanding voting or
equity shares of the paying person.

This latter agreement to pay a break fee in limited circumstances is
binding on US Gold and Minera Andes immediately. However, the other
agreements in principle described above are not binding, and there is
no assurance that US Gold and Minera Andes will successfully complete
the remaining negotiations, enter into binding transaction agreements
or complete the proposed merger on the terms agreed in principle or

US Gold and Minera Andes do not intend to comment further regarding
discussions or the proposed merger until binding transaction
agreements are reached or discussions have terminated.

ABOUT US GOLD (www.usgold.com)

US Gold's objective is to qualify for inclusion in the S&P 500 by
2015. US Gold explores for gold and silver in the Americas and is
advancing its El Gallo Project in Mexico and its Gold Bar Project in
Nevada towards production. US Gold has a strong treasury with
approximately $100 million in cash and gold and silver bullion. US
Gold's shares are listed on the NYSE and the TSX under the symbol
UXG, trading 1.9 million shares daily during the past twelve months.
US Gold's shares are included in S&P/TSX and Russell indices and Van
Eck's Junior Gold Miners ETF. Rob McEwen, Chairman and CEO, owns 20%
of the shares of US Gold.

ABOUT MINERA ANDES (www.minandes.com)

Minera Andes is an exploration company exploring for gold, silver and
copper in Argentina with three significant assets: a 49% interest in
Minera Santa Cruz SA, owner of the San Jose Mine in close proximity
to Goldcorp's Cerro Negro project; 100% ownership of the Los Azules
copper deposit and 100% ownership of a large portfolio of exploration
properties in Santa Cruz province, Argentina, including properties
bordering the Cerro Negro project in Santa Cruz Province. As of June
30, 2011, Minera Andes had $22 million in cash and short-term
investments, with no bank debt. Rob McEwen, Chairman and CEO, owns
31% of the shares of Minera Andes.

Forward Looking and Cautionary Statements

This press release contains certain forward-looking statements and
information by each of US Gold and Minera Andes, including
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. The forward-looking
statements and information express, as at the date of this press
release, US Gold and Minera Andes' estimates, forecasts, projections,
expectations or beliefs as to future events and results.
Forward-looking statements and information are necessarily based upon
a number of estimates and assumptions that, while considered
reasonable by management, are inherently subject to significant
business, economic and competitive uncertainties, risks and
contingencies, and there can be no assurance that such statements and
information will prove to be accurate. Therefore, actual results and
future events could differ materially from those anticipated in such
statements and information. Risks and uncertainties that could cause
results or future events to differ materially from current
expectations expressed or implied by the forward-looking statements
and information include, but are not limited to, the completion of
the proposed business combination between Minera Andes and US Gold
(including the numerous approvals required in connection with such a
business combination), risks related to business integration as a
result of a successful business combination, factors associated with
fluctuations in the market price of precious metals, mining industry
risks, risks associated with foreign operations, risks related to
litigation including specifically but not limited to Minera Andes'
Los Azules property, property title, the state of the capital
markets, environmental risks and hazards, uncertainty as to
calculation of mineral resources and reserves and other risks.
Readers should not place undue reliance on forward-looking statements
or information. Neither US Gold nor Minera Andes undertake any
obligation to reissue or update forward-looking statements or
information as a result of new information or events after the date
hereof except as may be required by law. See (i) US Gold's Annual
Report on Form 10-K for the fiscal year ended December 31, 2010 and
other filings with the Securities and Exchange Commission, under the
caption "Risk Factors"; and, (ii) Minera Andes' Annual Information
Form as filed on SEDAR (www.sedar.com) and form 40F/A filed with the
SEC, for the period ended December 31, 2011, for additional
information on risks, uncertainties and other factors relating to the
forward-looking statements and information. All forward-looking
statements and information made in this news release are qualified by
this cautionary statement.

The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of the contents of this news release, which has
been prepared by management of US Gold and Minera Andes.

Contacts: US Gold Corporation (647) 258-0395 Toll Free: (866) 441-0690 info[at]usgold[dot]com www.usgold.com Minera Andes Inc. (647) 258-0395 Toll Free: (866) 441-0690 info[at]minandes[dot]com www.minandes.com

SOURCE: US Gold Corporation and Minera Andes Inc.

mailto:info[at]usgold[dot]com https://www.usgold.com mailto:info[at]minandes[dot]com https://www.minandes.com

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