The good discussions on stockhouse, most posters believe that the $23 million that AE will spend for common shares will be in a p.p., otherwise buying in the open market won't help the company financially at all. Also, that the p.p. strike price will be at least $1.20 because if it's lower, and AE acquires more shares than Goldcorp in their p.p., then Goldcorp is allowed to buy into the p.p. to reestablish theit 15% share ownership. Here's what I'm quoting from Sage on the stockhouse board:

"$23 million via a share financing according to page 19 of May presentation......so In order NOT to excite GC's pre emptive right to maintain a 15% equity Interest In Evolving Gold....AEM would have to purchase their paper @ roughly $1.20 PS.....back of the napkin math 19 million shares at $1.20 equals $22.8 million just under GC's 19,047,721 share position....any PP under a $1.20 and GC participates proportionately In that financing to maintain their %15 Interest..."

I'd be surprised and thrilled if Tookie could get anything close to what Ventana got in their buyout.