Pending Drill Results...............ControversySeems like Robert Allen ought to know a little bit about the San Matias Project in Colombia.
The facts I could find include the following.
Shortly after the reorg of WesGold into Cordoba Minerals and the large share placement to Sabre Metals and Cordoba Holdings Corp and their subsidiaries in exchange for the mining rights and mining applications that formed the San Matias Project, such share issuance and exchanges consummated in March 2014.............(its all in the Special Meeting circular filed on SEDAR dated 2/24/2014).
Sabre had an option on the property with Bullet Holding Corp, a Panama Corporation.
Bullet had entered into an option agreement dated January 18, 2008 with Continental Gold to option the property to them. Continental gave up the option to Sabre at a later date in exchange for some share ownership of Sabre.
Obviously, Robert Allen was a large owner or officer of Bullet, as he filed a SEDAR report after the share exchange in March 2014 that he owned or controlled now 14 Million shares of Cordoba, that had to have been received from Sabre Metals in the March 2014 exchange. That was filed on SEDAR that he controlled 12.37% of Cordoba. I assume this was prior to the 1 for 2 rollback. (some of this data is from the technical report where it describes the property in section 4 nearer the beginning done February 2014 as part of the share issuances done the next month) .
What is funny here is that Bullet does not show the mining applications accepted dates for 3 properties that form part of the Cordoba share "issuance" until 19th November 2012, so I do not understand how they can option properties to Continental in 2008 unless they were just optioning the mining application while they "waited" for the application to be approved?"
An "option" on a mining concession application, as opposed to an option on a mining lease or claim that was actually approved.
Anyway, a lot of officers and a few directors came to Cordoba thru the Sabre Metals "issuance" of Cordoba shares. Robert Allen being the largest shareholder of Sabre thru Bullet Holdings was NOT one of these "insiders".
It seems apparent to me that all Sabre really did in the interim was do the 4 air drills on Monteil East exploration porphory target from August to September 2013, turning up pretty good results with decent average lenghts and grades of these drills(see the earleir technical report 2/1014) and then option the property to Cordoba for pretty decent cash and securities in Cordoba, in exchange for the option on the property with Bullet Holdings and the money spent on the 4 drills, and a little geo on this smaller land package.
It looks like "front-runing" by Sabre knowing they were going to option it to Cordoba, and then flipping it to Cordoba for a nice profit in shares and cash.
I have no idea if or when or at what prices Mr. Allen and Bullet Holding Co. registered in Panama actually sold their Cordoba shares for.