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Golconda Gold Ltd GG


Primary Symbol: V.GG Alternate Symbol(s):  GGGOF

Golconda Gold Ltd. is a Canada-based un-hedged gold producer and explorer with mining operations and exploration tenements in South Africa and New Mexico. The Company operates through its wholly owned subsidiary, Galane Gold Mines Ltd., two assets: a producing gold mine which also has the rights to certain mineral exploration tenements (the mine and mineral exploration tenements collectively, the Galaxy Property) located in the Republic of South Africa (South Africa) through subsidiaries located in South Africa, and a gold and silver mine and processing infrastructure located in the United States of America (the Summit Property) that is in care and maintenance. The Galaxy gold is situated approximately eight kilometers (km) west of the town of Barberton and 45 km west of the provincial capital of Nelspruit in the Mpumalanga Province of South Africa. The property covers approximately 58.6 square kilometers (km2) is part of the prolific Barberton Greenstone Belt.


TSXV:GG - Post by User

Bullboard Posts
Post by goldsoldaton Jan 14, 2005 10:07am
181 Views
Post# 8431376

Joint Meeting

Joint MeetingWell, I am going to stick my neck way out and express the following opinion, which is not investment advice and is "way out". As I understand it, t.g and Wheaton have previously announced a joint conference call for later today, Friday. t.g just a few minutes ago released a statement that it would not comment on the Glamis offer until t.g board had formally reviewed the offer. Yesterday, on the conference call news, the price of t.g was up, in a down gold market. I suggest the following, without any facts to back it up: t.g will announce sale of its physical gold, in whole, or in part, and use the proceeds to pay a one time special shareholder cash dividend, before the Glamis takeover (if occuring). Wheaton will support such action. In other words, it is like a "poison pill" with the t.g value decreasing, thus making Glamis (over)paying for the t.g shares and forcing Glamis to withdraw. Such news would, of course, demand questions re the takeover, hence the RENEWED announcement that t.g would not make any statement until the board had reviewed the offer. Just a thought. Goldsoldat
Bullboard Posts