RE:RE:RE:RE:Notice on SEDAR of Meeting June 28 Th ??The timing of ICG AGM must have something to do with its involvment with ER.
ER AGM is on Friday 29 April 2016, just less than 2 weeks away. Record date for voting eligibility is 5pm, 14 April 2016. The key thing is to get the new slate of directors voted in, Robinson will step down at the AGM as director, and interim CEO will be appointed at the end of the AGM (they already have the name). It's quite interesting to read the Letter to Shareholder which was signed by both Curtis and Robinson (he has some last critical words for Columbus). But, the other letter was signed by Curtis with some kind words thanking Columbus for dropping the proxy fight. Yes, the corporate drama! No matter, Robinson is on the way out, mainly due to not fast enough action during the last 3-5 years.
The new team, BoD and Management will speed up the process to develop Eau Claire. Bet that the PEA will come out before June 28 2016 (ICG AGM meeting).
End of June is also expiry date for the bulk of the wts (anyone has the exact dates for both 0.30 and 0.26 wts?). According Google Finance, the OS has increased from 399.96M to 411.48M shares, as of 15 April 2016. That means, some 11.5M wts have been exercised for ~ $3M (1/3 of the total).
So, expect anyday now that ICG will come out with an NR saying something about the status of the wts, and the "forcing" exercise for the balance, to top up its treasury to finance the $6M strategic investment in ER.
May be, just may be, ICG will also go for the wt exercise (if eligible) to up the anti of strategic investment to 15% the max allowed by the agreement.
Rumours say that G has 7.5% of ER, but I have not have any firm evidence (anyone?). What would not be a surprise, at least for me, is that ICG and G have been cooking a scheme for G to drop a 15% strategic investment on ICG just to shake ELD a bit. They may want to spin off Triangle and its vicinity (e.g. #4 Plug) as a separate subsidiary...for a JV with somebody or outright sale (ELD, G?), to cash out or get shares from the majors for its shareholders. G may do just that, like what it has done with PRB for the Borden Lake deposit.
There are many other options. Feel free to speculate.
Cheers,
GH