Core Gold DMMIF

RE:Titan's latest corporate "presentation"

[Tad]

It appears the SnowWhite and his dwarves from the Hotcopper forum are enjoying their visit here on Stockhouse  ...... right Luis ?

Do not tender your shares to Titan. Wait for the other offers to be considered by the full board of directors. None of the directors have taken any action, neither should anyone else.

All Titan can do us offer you basically worthless paper for Core Gold's assets that would see over 700 milion shares outstanding of their " new company" , and then they would have to do a significant financing to raise enough money to do proper exploration on Dynasty Gold Fields, Copper Duke and Linderos, or invest the estimated $3 million to upgrade the mill at Portovelo.

Hang tight for a couple more weeks

GLTA

Tad wrote:
As we all know ..... Titan still pretty muich zero in tangible assets other than the 9,151,363 Core Gold shares they had to borrow the money for, and still owe to their lenders, because Titan can't afford to pay the loan and had to extend the maturity date to the end of December. 


https://www.investi.com.au/api/announcements/ttm/868a23f6-89f.pdf


Pretty imprressive price chart on page 6 ..... steadily decreasing share price since December 2017. 




Oh, BTW,  interesting little tidbit on page 3: 

Brent MacFarlane, Proposed Ecuador Manager

Holds a BSc from University of Arizona in Mining Engineering

Former VP Operations for SilverCrest Mines, and previously with New Gold, Mine Finders, Knight Pisold and James Askew Associates

Extensive operational and development experience though South America, Central America and Mexico


Hmmm ..... Mine Finnders ..... Just wondering, does anybody else think that Core Gold director and CEO Mark Bailey might have "suggested" that recommendation to Titan Minerals, somewhere, sometime ? 


https://www.coregoldinc.com/corporate/management/


"Mr. Mark Bailey has been a director of the Company since September 2003. Mr. Bailey is a mining executive and registered Professional Geologist with more than 40 years of industry experience. Between 1995 and 2012, he was a Director and the President and Chief Executive Officer of TSX-listed Minefinders Corporation Ltd. ("Minefinders"), a precious metals mining company that operated the multi-million ounce Dolores gold and silver mine in Mexico before being acquired by Pan American Silver Corp. for approximately $1.5 billion"




Does anyone know if business associate of CEO Mark Bailey and Lead Director Gregg Sedun, Paul Matysek, still owns the 23,800,000 shares of Titan Minerals that he bought sometime between November 2017 and April of 2018 ..... 




On page 7 : 

Core Representation

It is proposed that post transaction, the Titan board will be expanded to seven and include three nominees of Core, ensuring that the company retain Core’s knowledge, skill set and regional expertise


Who are the three Core Gold board members that will be nominated for the new directors positions at Titan Minerals ?  Any guesses ?  ;-)

Obviously Keith Piggott has the most experience and regional expertise in Ecuador, (but doubt he's going to one of the nominees}  .... unlike Mark Bailey, who had only visited Ecuador ONCE as a director of Dynasty Metals and MIning / Core Gold in more than a decade on the board of directors prior to being appointed as CEO.




Conflicted ?


Anyone ? 


Multiple offers apparently to be considered, at least according to Core Gold's latest news release ... Only a couple weeks left  .


https://www.coregoldinc.com/news-releases/2019/core-gold-recommends-shareholders-take-no-immediate-action-in-response-to-unsolicited-takeover-bid-by-titan-minerals/


"Strategic Review

On September 17, 2019, Core Gold provided an update on its strategic review process of alternatives available to the Company,including equity or debt financings, core and non-core asset sales, strategic investments and joint ventures, as well as a potential merger of Core Gold with another company. The Company has requested that parties involved in the process formally express their interest in a transaction by not later than mid-October 2019. The Company remains committed to continuing its strategic review process."



GLTA