Share DistributionBeen doing some digging trying to figure out who owns the shares.
Interesting find:
AngloGold Ashanti Limited reports holding $25MUS or $31.3MCAD of Covus on their Dec 31/17 financial statements and Corvus reports them owning 21,186,449 shares. The AngloGold financials don't disclose the number shares but when you crunch the #s that would put an ACB of $1.48/share which seems very high assuming they have been taking the placements over the years.
If you add in the Tocqueville Asset Management L.P investment of 18,964,709 shares the ACB of the shares drops to $.78/share which seems more reasonable IMO.
AngloGold needs to pass the scutiny of a public audit, Corvus disclosure probably doesn't have to go as deep and connect related holders.
If this is true then AngloGold is holding almost 38% of the company, good reason for Couers to drop out but very close to taking majority control of the company. You thoughts?