RE: RE: RE: RE: RE: RE: RE:TenderingI think you 2 are wrong on how much GLD has in the bank. I peg that number at around 6m. They have spent a lot of money from July on this and on drilling. When I looked carefully at TRR statements this week, they had 86m in cash.
IqaluitZen here are the reasons I have chosen to tender:
1. Mason resigned, no one left at GLD to move the company forward. They do not care anymore.They want this deal to happen.
2. I examined the financials of TRR and said WOW.
3. I looked at both companies management teams and again if you look at the expertise in TRR, there is no comparison with GLD. TRR has a wide range of experts in different areas. GLD does not.
4. If the 40 holes that were drilled by GLD had gold in them, they would have released some type of news on them. Even if it was not NI compliant.
5. The August 31st report on the 1.1 m inferred gold was the final straw. It states that further drilling would have to be done to prove the amount as a lot of the data was historical and not current. GLD did NOT drill 907 holes to prove it up. They used old data of drilled holes to prove it up when times were different. Yes they did drill some holes but not 907
6. Limited cash in the bank to even think of drilling a lot more, plus costs to get reports done, etc. They would have to come back to the market for more cash and thus dilute us GLD shareholders. And at what price?
Sorry , but I have done my research and this is what I came up with to make my decision.
Will be tendering this morning. 150,000 shares