RE:Costerfield Sale mjhayman,
Some background is in order here to provide fellow Mandalay Resources investors with an alternate perspective. I bought Crocodile Gold at 10 cents at its price bottom back in 2013, and then held the stock for 2 years until it was STOLEN by Newmarket Gold, for the simple reason that its majority shareholder Luxor allowed CROCF to be stolen.
And of course, Crocodile Gold owned the Fosterville mine which Newmarket Gold millionaires flipped to Kirkland Lake Gold for a nice financial engineering gain based on their knowledge of the high gold grades at depth at Fosterville. If my memory serves me, I think that Newmarket paid 37 cents Canadian per share of Crocodile Gold, which I think we can all agree was a THEFT in comparison with the current price of KL stock.
So my theory is that Mandalay Resources management allowed/facilitated/enabled the 2018 stock price decline into November to push Mandalay Resources shares into the market, so that the four major funds could load up on a majority ownership position in Mandalay Resources at a huge discount because they knew that they had the next Fosterville in Costerfield!
So my investment thesis in increasing my MNDJF position by 10 fold in November 2018 was because I think that this stock is the next CROCF, with the difference that the 80 percent
majority fund position and reverse split make the stock immune to a Newmarket Gold takeover scenario by a bunch of iterant millionaires!
So talk of a Costerfield sale is NONSENSE, pure and simple! And if you are a retail investor, hold on to every last share and think of it as if it were a share of KL.
In a future posts, I will do a post on the history of Crocodile Gold, and a comparison of the geology at Fosterville with the geology at Costerfield
based on the old Fosterville 43-101 reports which are no longer available.