Core Gold AGM 1) - IntroductionCore Gold's AGM for 2019 was held 10 a.m. October 8, at the Terminal City Club in Vancouver. The board was returned and the official necessities went smoothly. CEO Mark Bailey presented on a number of matters and took questions from those attending.
Following that, the small crowd broke into discussions of their own. It was refreshing and cordial meeting, exuding a positive atmosphere, underlain by excitement over Core Gold’s remunerative operations and sunny prospects.
Core Gold has entered into a fresh era of desirably solid prospects for advancement. Shareholders and the company are finally where they want to be - achieving good production multiplied by a substantially higher gold price, a true strategic finance process in progress, set within the environment of reborn life in the stocks of the junior gold miners.
The unity of the board and management on display at the meeting, the impression of shareholder interests taken seriously, and Core Gold’s excellent position as a producing miner in a market that’s on the upswing is likely enough to have launched a bidding contest around Core and its projects.
The Terminal City Club was founded 127 years ago, its entrance displayed in the photo below. It is an agreeable place to hold a meeting, and is often used as a film location.
Core is endowed with superb concessions thanks to its originator, Robert Washer, when its predecessor was named Dynasty Metals and Mining, but it endured past periods of difficulty establishing and then pausing underground mining at Zaruma. Re-capitalizing as Core Gold under Keith Piggott, it boldly brought the Celica surface mine within Dynasty into substantial production in the 20,000 ounce/year range, bolstered its financial situation to free up its concessions for finance and corporate transactions, and passed through an intense battle over a takeover bid. The gold price and market conditions have turned strongly for the better, and CEO Mark Bailey is very ably leading it into this propitiously good era for this junior miner.
The Terminal City Club is shown at right with the Vancouver’s heritage-listed Marine building of 1930 in the background.
Now having found a brilliantly sunlit patch, there is a buzz around the company, as investors and bidders clamor to review the mineralization documents in the Data Room, and for dates when they can be sandwiched into site visits. Shareholders have waited a long time for this day.
The members of the company are all pulling together, in the direction of obtaining suitable finance or offers sufficient to achieve the next phase for Core. The intensity to date around Core Gold stands to reason - as some have pointed out, it has assets worth fighting over. After a struggle over the July 4, 2019 rejection of a prior takeover bid, there is evidence for shareholders to feel they are being taken seriously, of strong cooperation on display at all levels.
The ducks are in a row to organize suitable financing and/or partial or full sale in the most favourable junior gold market and hottest gold price in years. Every party wishes to see Core properly valued and its properties capitalized more than well enough to exploit its rich gold projects. It is widely felt that any bidders that succeed will be getting world-beating assets at a bargain.