OTCQX:GLDXF - Post by User
Post by
likeikeon Sep 28, 2020 6:21pm
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Post# 31632960
interesting
interestingregarding the Guia Antigua area, from June 13, 2018: https://www.mining-journal.com/m-amp-a/news/1340157/gran-colombia-gold-to-take-15-stake-in-sandspring yesterday: https://www.finanzen.at/nachrichten/aktien/esv-resources-enters-into-agreements-to-acquire-past-producing-guia-antigua-silver-project-and-zancudo-silver-gold-project-in-colombia-name-change-to-denarius-silver-corp--1029620202 Sandspring must have liked it... but, (new CEO) Matysek apparently didn't. So, it was given the boot. (from GOLDx's Financial Statments released 8-31-20...) Total consideration of $9,264,027 was allocated to net assets acquired and liabilities assumed; the excess of the fair value of consideration paid over the net assets acquired was allocated to the Chicharron resource property. Management of the Company determined that there were indicators of impairment on the Chicharron property. As a result, due to management’s decision to curtail exploration operations, Chicharron was written down from $9,264,027 to $nil at December 31, 2019. Consequently, it is no longer listed as an asset for GOLDx on either its website or its balance sheet. So... if that don't leave you (and maybe now, a few GOLDx shareholders) scratchin' your head and wondering just what (or who's) pocket that wee little $nil asset ended up in... for which ESV is now paying 15 million shares (valued around ... a tidy 7 million or more?) to "1255269 B.C. Ltd." (yes, you guessed it, a "privately held" British Columbia corporation), then maybe you haven't seen or noticed how the game can be played in Vancouver. A game where pathetic little pawns (and especially patsy's) are used and tossed aside. Expect it will show up as a sale with a gain of some sort in GOLDx's next quarterly report? Ah, well... perhaps. Somebody's makin' a nice fat gain, that's for sure. Maybe it's a question for the CEO over there, Paul Matysek, eh?