Core Gold DMMIF

RE:Waiting the weeks - What a mining transaction can look like

[Tad]

Standfir,


Thanx for the info !


Premiums of 36% in the NEXA / Karmin deal,  59% in the Hecla / Klondex deal, and
40.8% in the St. Barbara / Atlantic Gold deal in relation to the previous 20 - 30 day
closing prices of the three companies that were acquired is not all that encouraging when
considering Core Gold's current strategic review process,  but as you mentioned, you
are only presenting the impact on the charts. Maybe we'll see a higher premium, as
there was a pretty good indication from Zhaojin Mining of what they felt was a fair offer
to come in as a partner back in February / March 2019.


I see that all three of your takeover examples included a new spin off company as 
part of each of those transactions.  Interesting.  Not sure how successful any of
of these spin-offs have been or if the spin off transactions have been finalized.


Regardless of what any of us consider the value of Titan's shares, Titan offered a
substantially higher 164% premium for our shares compared to the examples you're
using as of the date of their offer, it worked out to $0.422 for each Core Gold share.
Titan's offer is still about a 68% premium based on today's share price of Core Gold.


I do feel that Core Gold's situation is much different than those three acquired companies
you have cited, as our assets have not been properly explored over the past decade
due to underfunding,  and the legacy debt that were incurred with the problems that
occurred with the underground Cabo de Hornos MIne close to the Portovelo Processing Plant


Back in February / March, Zhaojin MIning offered approximately C$16 million cash
for a 19.9% equity stake at $0.45 per share, along with an additional US$20 million
cash and possible committment to build a 2000 tpd mill at Dynasty Goldfields for a
60% share  of Dynasty Goldfieids .... which left CGLD shareholders with the potential
to participate in any exploration upside on DGF and in full control of the rest of the
company's assets. Hopefully any new offer would see current shareholders having
that same potential going forward. 


Gold price is still about $150 per ounce higher than it was back in February. 

Will we see an offer, or offers, from any suitor(s) that is at least equivalent to the
valuation that Zhaojin Mining was willing to offer 8 months ago ?? 


All remains to be seen,  maybe soon .... 


GLTA.