Resource Capital Gold Corp GDPEF

******RCG. ICMBAIN******

[LOCKDOWN]

Leftbook you are buddies with Icmbain maybe you could ask him to post and give us some real information ??? I am not hearing a word from "Fat Tony"things are really quite !!!

[LeftBook]

Damian knows Leigh McBain. I don't. Leigh has spoken to Jack more than anyone. His posts are excellent.  I read them attentively.

[damianchosenone]

Spoke to leigh and he reiterated that he expects no more than 25 million and that is an inflated number. Also expects a shell out of this. Jack told my friend that they are hoping for a shell at best. That's all I know!

[Juventino21]

Hi Damian, If it does end up turning out to be a shell, what does that mean for the average joe investor like myself who has a decent size position in this stock? Thanks in advance

[damianchosenone]

Means that we have a company with 0 debt but 0 properties and 0 management . We have tax credits but will have to search for properties and then find a financing and dilute the shares 10 to 1 or so..basically it's like rewinding 5 years but adding more shares. We are screwed if that happens. Only thing worse is a bankruptcy

[LeftBook]

alternatively the shell and the tax credits could be sold $10M sale of tax credits at half price + $2M shell = $12M $12M/175M = 6.8c/sh

[damianchosenone]

[LeftBook]

the tax credits offer significant breathing room to Dufferin Dufferin has an NPV of $89.2M Let's say that the project goes badly and only makes $68.7M post tax. The $20.5M of tax savings results ensures a final gain of $89.2M for the shareholders. The tax credits de-risk the project by 23%

[damianchosenone]

6 of the 10 bids offered 10 million or less. 2 walked away before they had to put up a deposit before june 14th. The 2 left know that rcg has 0 leverage and can offer less than 20 million. I am a betting man and will bet that we get less than 20 million. PwC does not care about us! George's group walked away after they did more diligence

[LeftBook]

hmmm. not long ago you were complaining it was a secretive non-competive process now all details are known Are you saying George walked away after more due diligence. Or that George's group walked away from George after due diligence. Or something else.

[damianchosenone]

George's group did not even make a new bid that was due June 14th. This after they said they were open to negotiations

[LeftBook]

As CEO George arrange for $18.3M of investments at 14c/sh. 1) My expectation has always been that George had a good plan and that the next round of investments would be higher than 14c/sh. It would be a bit odd if George, now on the outside, re-evaluated RCG and thought it was over priced. 2) It seems to me that George's plan was always light on cash. I expected him to raise cash

[damianchosenone]

George has 0 say in why the company walked away. He isnt the one that decided that, the group he introduced to the project did. George tried to keep them in but they obviously changes their mind on this last round and didnt put in a bid PwC made groups deposit money to go look at projects and I think that turned groups off. Anyway I've bee told by many former workers at rcg that George was

[LeftBook]

saying that George was wrong on many things ... is a bit too easy. The rear view mirror is always clearer than the windshield. George could have been more conservative by  1) milling tailings 2) defining the resource by drilling 3) seeking more investment before do bulk sampling Big question is as-is did the bulk sampling add value ? my take yes but very little because it was cash starved