Resource Capital Gold Corp GDPEF

old Anaconda offer

[LeftBook]

Damian, 

do you have any other details about the old ANX offer other than 25c/sh ?

eg. share count at the time 

Was it ...
merger with RCG or
buyout of RCG or
purchase of just one property ?

[damianchosenone]

I was told it was a share for share merger so it had to be closer to a time where both were similar in price. Never told exact date but it was in 2017.

[LeftBook]

Share prices were in the same ballpark in the spring of 2017 so that would have brought the shareholders on side. ( I think share price at par is a coincidence. Share price swings, soars and plummets haphazardly with the juniors.) I prefer to look under the hood. A share for share deal could also be done at a book value. book values were also similar  ANX 2017ye (May) $35.7M/382M = 9

[damianchosenone]

Leftbook you are calculating way too much! Its all about how many offers RCG gets and if they get into a bidding war. Problem is that to get more offers and to make Dufferin and other properties look more desirable you need someone that will promote and advertise it. Right now we have a PWC trustee group that makes 300 k to sell the properties, an accountant that is interim CEO that will make

[LeftBook]

I agree with much of your assesment of the situation. I disagree with your $0 valuation. I am personally surprised at your lack of self interest  by talking down the price. A pessimistic perspective is part of the reason the share price is low. It stands in the way of warrants being exercised. It stands in the way of fresh cash being brought in.   I think the shares are worth book

[damianchosenone]

Left book! I believe dufferin is worth over 50 million. A geologist said that there is a whackload of gold there and only a small dot of dufferin has been drilled and explored. Once they do diamond drilling they will get massive targets where to get the gold. They described that in press releases that was like properties in Australia. They also have very low costs to mine the gold. The reason why

[LeftBook]

Your $50M makes me the pessimist.  My optimism for Dufferin is limited to the $24M listed on the balance sheet. I estimate $32M of value with $8M or three years worth of tax-credits fully priced in. I agree it there is lots of potential, but I see that potential being unlocked via the PEA first, followed by exploration. I am hoping for an investment rather than a sale. If it is sold then

[damianchosenone]

I am hoping that I am wrong about everything and we sell for a high price or merge with somebody. I'm hoping Gibson saves is like they did Bakerville. He said he really liked dufferin and tangier. He said they were great properties. Maybe I am naive and believe him hit others have more experience with that. He told me to not count dufferin out. I really hope they can do something! I know u am

[LeftBook]

yeah its sounds kind of bipolar as you swing from highs to lows. you have effectively bracketed book value of $13M by plus or minus $15M. It will likely be in that range.

[damianchosenone]

So what do you expect or want to happen? Someone buys out rcg completely for 25 million. Means after 20 million liabilities , we shareholders split 5 million between 175 million shares. The tax credits ate gone and new company forms? If we get bought for 17 million we are completely gone with no cash for shareholders after creditors paid? Or do you want someone to merge with us and we continue as

[LeftBook]

I think the story here is that there is a significant gap between the insiders and the open market. I estimate the insiders have 100M shares at 23/c, so $23M. That includes Sprott. Let's say my numbers are bad. Let's say the 100M shares are in at 15c. (Sidebar item. From the quarterly resports, Sprott first investment was on Oct 20, 2016 and the last investment was March 15, 2018. The

[LeftBook]

perhaps RCG should have taken that $2M investment (see question below for the price) but instead of using it for operations they should have used it repurchase shares in the open market. the next question is at what price would have benefited the existing shareholders more than the investors with the $2M of cash.

[damianchosenone]

Leftbook, what insiders are you talking about? Gary Lewis has an average share price of like 5 cents and since he did a gypsy swap a few years back at 25 cents, he basically now has millions of shares for free. The other insiders, except for Sprott had shares at 5 cents from Australia ( 30 million), 12 cents, 18 cents and 25 cents. I bet alarge part of those were already sold!!!! or they bought

[LeftBook]

I botched the description. I used "insiders" for a category of shareholders at 15c. Maybe I should have called them the 15cent gang instead. Separate topic. Gary Lewis' gysp swap simply repriced his shares to 25c. I understanding it is no different then buying a stock at 2c holding to 25c and then one day and selling the stock at 25c and repurchasing the same dollar amount at 25c

[LeftBook]

"sprott club" for all those that followed Sprott into the trade above 15c/sh 

[LeftBook]

$2M traded from dec 1 2017 to the halt low   1c avg   4c high 13c the high might have brought in the 12.5c warrants

[damianchosenone]

Left book! Do yourself a favor! The stock is at game, set, match! We are fuced! No ceo, an accountant for a ceo that put in his own money to keep it afloat and needs to somehow make it back, a managament that blames each other for all their screw ups, Gibson quitting after 18 months of being in charge and blaming others, sprott giving away 8 million to charity and 8 months of rcg trying to get

[therager]

Damian....you are corect sir.

[specky]

It is what it is at this point. No amount of discussion here is going to change anything. Hopefully it trades again but I doubt it. 

[LeftBook]

agreed. people are just babbling about what they think it is worth and where it is going. that's ok. It is an autopsy for some. blame game for others. it is a bit of getting ready for the next stage. I hope it will be bought out.  RCG shareholders will get the equivalent of book value as shares in another company. I see that as a bit of a loss. It would have been fun to see a

[damianchosenone]

Left book, if these guys could have gotten 20 million from someone already in the last 8 months, they would have sold rcg. Jack has been putting in his own money to keep the company alive. SPROTT offered 2 million extra so he gets his money back and Pwc and lawyers get money for trying to sell it. The management will be and say that they did the stay of proceedings to work out a better deal with

[LeftBook]

gold mining production at Dufferin needs $20M to settle debt and move forward. It can do that via investors (likely equity) or mergers. The other properties are too small to be significant. the end game is premature without understanding that well.

[damianchosenone]

Left book you have to remember that rcg managament has stated that they have tried to get a merger or acquisition or sold properties since last spring. If they were offered 7 cents a share, they would have definitely taken that! I'm still wondering why they didnt take the 2 million financing offer that I heard about in November?

[kenmar]

-I'm still wondering why they didnt take the 2 million financing offer that I heard about in November?- That wouldn't even have covered the CRA bill of 2.3 million and wouldn't stop all the creditors calling about their own amounts owed.