RE:RE:RE:RE:RE:RE:RE:USCG expiryGoldBelt - if I had to theorize why LME Special Committee retained the services of USCG it would be because John Covello (LME Director and Special Committee member) has an existing relationship with them.
Read John's bio in the LME Management Information Circular from Oct 13, 2023 available on Sedar+
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John Covello has been the Chief Executive Officer and the President of Covello Financial Group Inc. since March 2012.
He is also affiliated with Tipi Financial for First Nations Pensions and benefits as well as
the Director of Canadian Business Development for Metals House Inc. for procurement of precious metals. Mr. Covello has experience in raising strategic capital in many industries, including the mining industry, using global connections. He works closely with corporations and individuals to maximize tax efficiencies, profitability and protect their wealth. His business experience of over 25 years has provided him with a large network of relationships spanning multiple sectors. Mr. Covello is well versed in niche project financing, corporate legal work and negotiations, company administration and investor relations.
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John does work for Metals House. Metals House has used USCG before. Metals House has a relationship with LME. LME retains USCG. It's all related.
Looking back and connecting the dots...
October 2018 Metals House retained USCG as financial advisor for capital formation
Link to PRhttps://www.uscapglobal.com/news/capital-formation-for-global-precious-metals-company.html
April 2019 USCG Launches $150 million debt offering for Metals House
Link to PR May 2019 LME Announches Strategic Partnership with Metals House
PR From LME July 2019 USCG Announces that LME Forms strategic partnership with Metals House
PR From USCG It's entirely possible that funding for extensive future drilling will be funded by montizing the known gold contained in the waste stockpile as well as the old mine shaft. A 3rd party will fund the infrastucture and cover processing cost, LME will provide the gold....and they split the proceed 51/49. This would be entirely non-dilutive to shareholders, and provide us with the funds needed to rapidly advance / fast-track the Ishkoday and prove 10 million GEOs.
This is all just a wild theorization, open to hearing thoughts from others. Especially you GoldBelt.
GoldBelt wrote: Doug can you explain the reasons why LME chose USCG as a financial advisor when this company has never worked on a deal of the magnitude / potential asking price for LME ...AND USCG does not list many deals completed in the mining sector.
(it seems that LME has avoided anything of the typical jr mining route ...no trade shows/PDAC....no financing or dealings with the usual bay st types and bankers...no promotion other than from members here...)
https://www.mining-technology.com/news/top-10-ma-financial-advisers-metals-mining-sector-q1-2023/
GoldBelt wrote: Those scenarios make sense and I agree with all your points:)
I was scouring their website last night and could not find any transactions of the potential magnitude of LME....also not many deals involving mining companies
Now why would USCG be used vs the usual big mining M+A advisors?
https://uscapital.com/transactions.php