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GoldON Resources Ltd V.GLD

Alternate Symbol(s):  NCMBF

GoldON Resources Ltd. is a Canada-based mineral exploration company, which is focused on discovery-stage properties. The Company is in the business of exploring its mineral exploration assets. Its projects include West Madsen, Slate Falls, Pipestone Bay, Pakwash North, McInnes Lake, McDonough and Hagarty Creek. The Pipestone Bay Property is located within the Red Lake Greenstone Belt (RLGB) approximately 32 kilometers (km) west of the town of Red Lake, the 1,015-hectare Pipestone Bay Property lies in an area of numerous significant gold occurrences, including two past producers and four developed prospects. The Hagarty Creek property comprises 17 mining claims covering 7,731 hectares. The property is approximately 46 kilometers (km) southeast of the town of Longlac in the municipality of Greenstone, Ontario. The McInnes Lake Property is located over 115 kilometers (km) north of the town of Red Lake. The West Madsen Property is located in the heart of the Red Lake Gold Camp.


TSXV:GLD - Post by User

Bullboard Posts
Comment by digger144on Sep 03, 2011 11:59am
346 Views
Post# 19009700

RE: Received a call.

RE: Received a call.
Hey Laroplex...

Not in the Lock Up Gang yet?

If you choose, you must tender your shares three business days before the September 12, 2011 deadline...tendering three business days before will ensure that your instructions will be duly processed...thus the difference in the deadline date.

I believe the calls are being made for a number of reasons...they get paid for the process but primarily in an attempt to get to 90%.  There is no doubt in my mind that they have already reached the 67% threshold...an announcement might be made early next week stating that between the Lock Up Gang and the tendered shares they have surpassed the 67% threshold.

I myself will tender to the offer early next week.

The "thing" you must be careful with if you decide not to tender your shares especially for an investor as yourself whom is holding 500,000 shares is the liquidity factor.  Once Trelawney gets their 67% but falls short of the 90% threshold they will procede to get to full ownership by due process through the legal system and provide "fair" value to the dissident shareholders.  The "fair" value has been established and approved by both parties through various independent professional consultants which in the end means that dissidents cannot expect more than what is already on the table.  We did have a chance before Mason resigned and the Board of Augen was not "on board"...that opportunity is now gone...it is what it is!

The dissidents will be left trading the available shares under the GLD symbol until the process is complete.  Yes...they will trade according to the .0862 ratio but will do so under a much reduced liquidity factor which will be established after the tender offer is closed.  In otherwords, the dissidents will be left with the "leftover" float which will restrict the available shares for trading significantly.  If you can live with that, so be it...However, in the end it will all be for not...once the deadline passes you will not get the TRR shares until the process is complete...this may take two to three months to complete...until then you will be "stuck" and can only trade under GLD and be subject to much reduced liquidity...I believe only traders will be interested playing this game...they will play the Trelawney affect and trade accordingly.  Something to think about...to be sure!

Regards,

Digger144
Bullboard Posts