At this late date in this merger odyssey (actually odd merger is more accurate) it is not possible to predict the outcome. Which is very odd in light of all that has come out about Titan (more later).
But I do wish to take this opportunity to thank Mr. Piggott for saving my bacon. On that faithful day in 2016 when the share price of Dynasty hit 10 cents I assumed all was lost. Mr. Washer having ,it seemed, exhausted all possible rescues. But then Mr. Piggott brought some money to Dynasty, enough to hold off the bankruptcy that was so close.
In the years following I have been able to sell some of my , for me fairly considerable ,holdings to fund my retirement. And the price wasn't great, mostly 25 to 30 cents, but it made a big difference to me to get that and not zero. And since I bought lots of shares at 20 cents when Connacord was selling off, it wasn't so bad. So thank you Mr. Piggott. And guys like Washer also have a lot to thank him for. He too has funded his retirement, all be it at a much higher level, selling considerable numbers of shares from 25 to 35 cents. And he had converted lots of debt to shares at 15 cents when Mr. Piggott came in, so he did all right.
And I guess I could also thank Mr. Washer for not taking the easy way out and seizing assets that were collateral for his many loans to Dynasty in 2016, but instead taking a chance that Mr. Piggott could pull off the rescue that he has.
And very significantly , Mr. Piggott deserves a very big thankyou from the residents of Portovelo, the small town where Core has it's mill. Dynasty and now Core have for many years been an important buisiness in Portovelo. When Dynasty was approaching bankrupcy many workers and creditors were being left unpaid. In the couple years after Mr. Piggott took over , the workers and creditors have been made whole. One shouldn't underestimate the importance of this to the community. And also Core has just finished a new tailings pond, so the price of prosperity for the community isn't the poisoning of their environment. One can only guess that things aren't so good in Portovelo at this time, now that Core no longer has proper managment.
But that is the extent of my thank yous. I can't think of anything to thank Bailey and Clough for: no money from them, all they did is collect their directorship fees over the years. And Sam, who seemed ok at one time, has shown his true colours which are his basic incompetency , and his eager willingness to put his personal interests ahead of the companies or general shareholders.
And then there's Sedun. Talk to anyone in Vancouver who is involved in the same buisiness as he is, what kind of guy he is. There is a good reason that the only company he could get a directorship on was one weeks away from bankruptcy, and even then he had to buy in to get it. There is also a reason that he needs to advertise his services on the internet for 'Global Vision Capital'. Ussually those advertising their services on the internet are much younger and more attractive, and you don't need to be a 'high net worth individual' to partake. And now it looks like that by 2017, barely a year into his tenure, he was already plotting a way of stealing all he could.
And the last person of significance , in a formal position with Core, is Reyes. And the money he brought to Core was totally necessary in 'saving' Core; but now he seems to be leading the charge, in terms of voting shares anyway, to destroy Core. And it still doesn't make sense to me. The obvious plan is for him, and a few others, to double (or more) their percent holding of Core, and then sell it off. Surely he can see that they will be selling it cheap. That it would be more profitable for him to see Core developed under proper management, and that Titan certainly can't provide that. And that any percent that Titan, or whoever is Titan, gets will be a free give away. That Titan is going to bring nothing. Not even any money.
Even if they somehow manage to raise that promised $20 m A, there are already more liabilities than that. $4 m A to pay back the loan they needed to purchase Core's shares; possibly $ 10 m A for dissident rights (the exact amount is not known but could be significant); Titan would be out of cash by now according to their projections and need a cash infusion to keep going (since late 2017 when they came back they have needed around $5 m A a qtr); Core will need some money soon for day to day, my guess is that things have pretty much ground to a halt production wise in Ecuador, and Core has spent a lot of money trying to push this merger. So maybe the maybe $20 m A will cover all this. But money to develop some of Core's world class assets - dream on. ( I haven't mentioned the possible very large liabilities Titan could have for the Tulin Mill clean up. My guess there is that they will avoid those by : bankrupting the subsidiary that ran the mill; or if worse came to worse hiving off the Vista Mill back to Andina, and then bankrupting Titan Peru again. The Vista Mill will never make more than pocket money for Carr and Rowley. And besides the Vista Mill, Titan owns nothing in Peru.)
So , yeah, I don't know what will happen here. Humans are a very seriously flawed species: capable of weird and bizzare things. If this merger happens it will have to rate right up there with the worst, most criminal, most generally awful , things that ever happened on the VSE. I thought since those days rules and regulations were made, and regulators were given powers to stop this kind of thing. We wait to see if that is true.