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Red Eagle Mining Corp RDEMF

Red Eagle Mining Corp is a Canada-based development-stage company. It is engaged in the exploration and development of mineral properties. Geographically it operates in the countries of Canada and Colombia. It focuses on building shareholder value through discovering and developing gold projects with low costs and low technical risks in Colombia. The company primarily explores for Gold and owns interests in the Santa Rosa Gold Project located in Antioquia, Colombia covering an area of approximately 10,000 hectares.


GREY:RDEMF - Post by User

Bullboard Posts
Comment by SmokinWillieon Jul 03, 2016 7:59pm
217 Views
Post# 25018303

RE:RE:CB Gold

RE:RE:CB Gold

James West:    Ian, thanks for joining us today.

Ian Slater:    Thank you, James, great to talk to you again.

James West:    Ian, I guess congratulations is probably premature on your takeover bid for CB Gold in competition with Batero. Where do we stand on that whole transaction at this point?

Ian Slater:    Well, an official share register, Red Eagle owns 49 percent of CBJ and Batero, together with Navarro Grau’s private companies, own 22 percent, and the both bids – they extended their bid a couple of times, so it expires on Monday, and we extended ours so they expire at the same time.

James West:    Mm hmm. Okay. So you control, no ifs, ands or buts, 40 percent, Batero has, sorry, did you say 22 percent?

Ian Slater:    That’s right.

James West:    And now they’ve stated in press releases that they have, what is it, a total of 21 percent of shares tendered in addition to their 22 percent? Is that accurate?

Ian Slater:    Yeah, that’s what their press releases say.

James West:    Okay. And so what has to happen for either party to be successful?

Ian Slater:    Well I think, clearly we’re going to have over 50 percent by the time this is over, so we’ll be in the driver’s seat. We’ve requisitioned a shareholder meeting to replace CB’s board of directors. So I think there’s – so either we’ll go that route, where we’ll take control of the company that way and then do a plan of arrangement merger with Red Eagle, and the existing CB shareholders will end up being Red Eagle shareholders, or there’s still a possibility of coming to an agreement with the Navarro Ground family also, where they buy our shares or we buy their shares, or we develop Vetas together.

James West:    Okay. So it’s very much still to be determined, as it were.

Ian Slater:    Yeah. I think what’s important is that we’re in the driver’s seat, so it really depends on what we want to do.

Bullboard Posts