Core Gold DMMIF

RE:Thoughts

[Malpeque2]

BCSC has done little for shearholders of these TSX-V companies for a generation or two.....
My opinion is that they have been in the politcal pockets of the issuers,  Directors and Officers,  and the few MultiBillionaires and Multi Millionaires who have actually made some fortunes in mining and exploration from these companies when they do have nice discovery hits.

This has been changing slowly over the past few years.        IMO  Canada needs desperately a single national securities regulator like the SEC in the U.S.     Not perfect but much better than the provincial powers in Canada.    IMO Canada desperately needs a single national securities law,   with some real teeth and repurcutions for D&O who act like the rogues at CORE GOLD.  

You should all contact the CSA    Canadian Securities Admininstator and make them aware of the Core Gold case.   It's the poster child that might just be the straw that breaks the camels back getting some real reform.

Given the size of the case and your time and effort and $$$ involved,   going after the regulator(s)  is a complete loser.    Sorry Bailey2.  

This is a relatively small case.    Doug Worndl was not happy about the $5.5M given the time and risk.    He was with a big firm,  Siskinds,   then.     THese two I recommended are much smaller law firms,  with the ability to take probably smaller cases.   IF they are willing to do it on contingency,   no money up front by shareholders,  then I think that says the case is an eventual winner.

Conflict of interest by directors being on the BOD of CORE GOLD,  with a fiduciary obligation to shareholders,  while making no recommendation on the Titan offer,  yet at the same time signing lock-up agreements with the offerer.............looks like they got plain poor legal advice in Candyland.     THey should have resigned from CORE gold first IF they were signing lock-ups with Titan that read like some posters here say they do.
ie............They could have tendered their shares without a lock-up agreements.  

By announcing and filing the lock-ups with Titan,   the Core Directors Breached by discouraging the other potential bidder who was still negotiating.     They basically become NO votes on any BOD consideration of another bid,  AND  then have an obligation to disclose to TITAN  any other bids or material info!!!   That is absurd on it's face as a CORE director.   THeir obligation is to CORE shareholders,  and no more!