This sounds bad I read the news several times. It might be my English which is far from perfect, but I found it extremely difficult to find my way in this maze of companies that are in control of each other.
What I did understand is that the CEO did very well. He funded a small and insignificant Minco Gold with expensive cash that could be put in a great investment.
The market valued the entire Minco gold market cap as 15M, (including their 18% in Minco Silver!!! which is more than 6M and now they get 13 M for this? Give me a breake. This is the last time I put my money in a China.
Is this a TSXV scam? I am not sure. But I am always very nervous to read this kind of news published after the closing of the market on Friday. Unfortunately I read this kind of Friday news before, and as far as I remember they always turn to be bad news.
The departure of the CFO might be another sign that this was a very very bad move.