Coro is a Takeover TargetLIke ASE-listed Avanco receiving a takeover deal worth some $350 million (US) from Aussie miner OZ, Coro has telegraphed that it could be in the headlights of major miners by the end of this year. In May 2015, Greenstone invested some $20 million (US) in Avanco for its15% stake in that co., and is now in the position to exit and reap more than double its original investment.
Coro could be taken over at 100% premium at current market price or around $0.20 per share - doubling Greenstone's original investment in Coro. That would be good news to get rid of this poor performer.
I expect Coro to issue 100 million new shares at $0.10 to fund its SM claims purchase. This co. is a cash junkie, but it needs to buy SM claims for its large prospective landholdings in Chile in order to attract major miners,
Because Good Friday is a holiday, CORO has one more day of relief to file its audited annual statements by this Monday. Failing which, the Co. will be labelled a "DELINQUENT FILER" and management will be barred from trading its shares.