RE:RE:RE:RE:RE:RE:If the stock price gets to 70 cents Canadian Those following OT will know it now appears TRQ and Rio have been tagged off the bag on their sneaky attempt to two tier Pentwater and Sailingstone into a better deal. A former OSC Chair has pronounced the deal pretty clearly illegal in his eyes. Caravel Capital, a significant but smaller shareholder has retained Joe Groia a very well known securities lawyer and former OSC prosecutor to lob bombs at all parties plus the OSC.
And now, back to our ETG story, which is probably yet again delayed by a TRQ minority buyout delay coming next week. And some backsliding on that little price hop as well I'm guessing but you never know.
The probability/possibility of both other deposits, whether known, suspected or just theorized, plus a swallowing of ETG was specifically accommodated in the language of the IA when it was struck in 2009, which defined the "covered area" as the OT and JV'd licence areas but also any additional land that was part of the same "geological structure" or some similar fudge language. You can find the IA on Sedar back in October 2009 either under IVN or TRQ.
Another thing that was occurring back in those days was Friesland was pumping a proprietary set of ground surveys, that he claimed had far greater depth and clarity then anything else. He had a subsidiary, Govi (his son's name) something, they called the technology "Zeus". His nibs said not only could they find a Volkswagen down 3000 ft, they could read the licence plate. Now call my sceptical but funny he hasn't made many billions licencing or contracting this miracle out to every exploration company on the planet.
So what was he priming people for with that? Do the data rooms at TRQ and maybe ETG hold some very interesting exploration targets? A few years ago TRQ started including wording in their ongoing disclosure about high priority exploration targets that were under explored on the JV. ETG's "catalysts" list in its more recent investor presentations includes the word "shallow", which is actually a big deal. The bar to butt in line into the mill feed and thus add value to the mining scenarios is set pretty high because they have such huge reserves already - so if you can't beat em on grade, (and maybe you can with enough precious metal credits) then beat them on cheap mining costs, as in just brush off a bit of Gobi sand and start chucking what's there into the mill for cheap.
That happens - a high grade shallow deposit, another aspect of the Earn-in becomes clear - ETG is entitled to 30% of anything above 560m down. Now the historical explanation was ETG couldn't access deep coring rigs in 2004 because Friedland/IVN had tied all available in East Asia up ... so just RC drills were available to ETG. But those would have suited the proposed X-grid program that was never undertaken.
Copper up a whopping quarter per pound today on the triple need of Las Bambas slowing, super low warehouse stocks, and China making noises about lockdown loosening. BTW TD Bank used $3.50 as their long term copper price in the valuation opinion that said ... $42 to $56 was it? And no the gallant TRQ board didn't hold out even for the middle of the range.
It's a sleazy, sleazy world when you get brokers, promoters, lawyers and miners conniving behind closed doors.
We got the goods, we just need some honest dealing. Big upside, many buried IED's on the exit ramp.
Have a great weekend. Interesting week next week.
cg