RE:RE:RE:RE:RE:RE:RE:2023 VGCX Revised Production Guidance - Misguided? Here's a link that lists the largest VGCX shareholders but note that it is different than the list on Page 15 in VGCX (website) September Investor Presentation:
Victoria Gold Corp. : Shareholders Board Members Managers and Company Profile | CA92625W5072 | MarketScreener In this link, GMT Capital (hedge fund) and Coueur Mining are shown as being the 2 largest shareholders, conveniently holding just under the 10% share threshold (to avoid sercurities reporting rules of their share trading activities).
When Coueur initially bought VGCX shares a couple years ago, rumors were circulating that they would likely do a takeover of Victoria. I believe Coueur paid around $13 a VGCX share and then ended up selling at a loss but for some reason are/ were still holding just under 10% of VGCX shares (are they still? ...don't believe this is an accurate up to date record because VGCX September presentation shows Sprott as VGCX second largest shareholder and Coueur not even listed??? Sprott is listed as VGCX second largest shareholder with just under 7% of VGCX shares on the VGCX website September Investor Presentation so it seems the link is is outdated or the shareholder list not updated? May be Sprott has recently sold their shares to Coueur and Coueur has been picking up the cheap retail shares? This needs a closer look for sure.
GMT Capital coming into the picture in recent months is interesting and was a red flag to me. I spoke with JM a few months back about GMT Capital and my concern with a Hedge Fund becoming a major VGCX shareholder and he indicated he has known GMT Capital founder Thomas Claugus for many years and he was not concerned about them becoming a major shareholder. Apparently GMT (at that time) only held 2 Canadian Gold companies - VGCX and AR (Argonaut Gold) as apparently Thomas sees considerable value in both these plays.
So you've got to ask yourself, GMT Capital has fairly deep pockets of about $10 billion and it would seem that if and when they want the current share price bleeding to stop, they could make it happen pretty quick, so why aren't they? Are they chipping away waiting for the retail shareholder to capitulate? Are they perhaps working with another entity toward a hostile takeover bid? What do they see in VGCX that incentivised them to become VGCX largest shareholder? Thomas Claugus and Eric Sprott and no dummies and are managing billions and so why are they here as the largest shareholders of VGCX? Something strange is going on and only time will tell.
HB77