May 26 - June 9th......What did TME management know or not know dealing with Goldcorp and Oban ?
Lets see we know that Goldcorp was putting the squeeze on by not paying what they owed and we also know that TME was short cash ..who was playing who when this deal was made ?
Temex has elected to firstly dilute Goldcorp's interest to 30% via dilution mechanisms as provided for in the Joint Venture Agreement ("JVA") dated June 29, 2010. In conjunction with the equity dilution, Goldcorp has agreed to sell an additional 15% interest to Temex for $1.5M (CDN)
To me it looks like they Goldcorp knew it would be hard for TME managemet to come up with cash so a deal is struck by both parties...So makes me wonder how the Oban deal was struck so quick with Osisko being ready to invest in Oban....and TME.. once Goldcorp was out of the way...hmmmm...and more important is that Goldcorp now knows that TME properties are in play not to mention 30,000,000 million dollars of open pit gold ready to go ! I cant see them wanting to lose out to Osisko again and have them next door ... time will tell...
If there are any other potential offers ...