Core Gold DMMIF

More speculation

[1kgcoffee]

Disclaimer: The following is speculation only. I am not so sure of the finer points or facts, but I believe the following to be true to the best of my knowledge. Wall of text forthcoming.

• In their Q3 results, Core Gold stated (paraphrasing) that there can be no guarantee of any alternative to the Titan offer that comes of the strategic review. It has been approximately one month since the stratetic review ended and we have heard virtually nothing except this snippet in the Q3 report that considers the Titan offer to be a serious and fair one.
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• Titan announced last week that their  AGM will be postponed to January 13th 2020, on day before their offer expires. Of course they could keep extending it as they do their voluntary suspension.. Titans voluntary suspension will remain in place until the 'anouncement' is made. It is pretty clear to most of us that this is not to protect shareholders, but to freeze the stock price of Titan Minerals before it plummets.
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• Titan Minerals has not disclosed the recent ruling against them in Peru, as posted previously by Tad. If I'm not mistaken, the suspension occured before or during the time that the ruling was made.
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• Core has stated that they will make a decision regarding the Titan offer on or before January 7th 2019, before Titans AGM and quite possibly while Titan is still suspended. This means that the frozen in time price of Titan minerals may not accurately reflect its true market value in light of recent events. I valuate Titans market value to be less than half what it currently is in a very liberal scenario.
• On three separate occasions, the Core BOD has indicated that they support the takeover bid by Titan minerals. First, the announcement after the court ruling "The Company is considering its options, including appealing the decision. 

  The Arrangement Agreement between Core and Titan continues in force and has not been terminated.

  
  Read more at https://stockhouse.com/news/press-releases/2019/07/04/core-gold-provides-update-on-titan-transaction#gM3QVZyFCmUIYPpX.99", Second, the Vertex debt transfer, and third their appeal to the TSX to allow the Vertex debt transfer to go through, during the stratetic review no less. Major conflict of interest. If past behaviour is the best predictor of future behaviour, is there any reason to assume the BOD (minus Piggot) is not in favour of Titan. Again, I reiterate what was stated in the Q3 results, THERE CAN BE NO GUARANTEE OF ANY ALTERNATIVE TO TITAN MINERALS. We have not heard of any alternative with respect to the strategic review, and it is quite possible that we won't. I have stated for months that I believe the strategic review to be a ruse designed to fool regulators in meeting the legal requirements for fairness.
• January 7th is one month away. Titan may well be suspended until then. Yesterday, a large bid appeared at 23 cents and was almost immediately filled. This to me is a sign of share manipuation, keeping downward pressure on the price of core, just as some have speculated (key word speculation) that Titan minerals has been inflated upward. The hypothesis being that they intend to trade fake value for real value.
• The market is still valuing Core Gold tremendously low when we know that it is worth much more. This to me indicates either manipulation or an expecation that management will fail us.
• The last piece of the puzzle, the one that I cannot figure out, how do they intend to get a controlling stake in Core Gold? If the members of the BOD in favour of the deal accept, they get the vertex shares, plus whatever else they have, is it enough to push them over the edge? Can they just put it to a vote?

If you think a great deal is imminent, and I am completely out to lunch, please just ignore. As investors I think it behooves us to consider things from even the most cyncial of views. The balance of the facts makes me believe that the BOD is still trying to push the Titan deal through, and has not given investors transparent consideration of superior avenues.