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Bullboard - Stock Discussion Forum Core Gold DMMIF

Core Gold Inc is a gold mining company based in Canada with all operations in Southern Ecuador. The company primarily explores for gold and silver. Some of its projects includes Zaruma Mine & Portovelo Mill, Dynasty Goldfield and Copper Duke Project.

OTCQX:DMMIF - Post Discussion

Core Gold > Core becomes normal company, Announcement: Arrangement over
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Post by standfir on Jul 19, 2019 3:16am

Core becomes normal company, Announcement: Arrangement over

Titan Minerals announced that the Arrangement is over, and that they are also requesting a Titan Minerals trading suspension until August 19.  If this isn't the last that Core shareholders have seen of Titan or its affiliates, one wouldn't wonder if there would be an uproar - the court judgement was powerful and unequivocal.  Gregg Sedun as Lead Director, led Core Gold into that massive misadventure, with not only huge costs incurred but also delayed time and impetus - his stepping down from the board will probably be the most welcome one and do the most to move the company forward.

The voices of hundreds of small shareholders counted, after all - overcoming a tiny number of insider-shareholders that got their votes stacked in, but overall not fairly nor reasonably.  It is absurd that anyone, especially within the company, can attempt to defend the "vote", under those circumstances.  In numbers of shareholders, the hundreds of shareholders that won the court ruling should now be respected by the company, as it should be: the court ruling must be accepted and be the basis for moving towards optimal development of Core Gold's assets.

Core becomes a normal company again, and can seek suitors.  One would expect companies to be applying to Core's data room, and to do their on-site diligence.  One positive note from all the drama is that the Core Gold story got more well-known, and has justifiably attracted some serious interest.

--- Arrangement is over (can't post a pic on Stockhouse):

https://pasteboard.co/IoF837f.jpg
 

--- Titan suspension of Titan trading until and iincluding August 19:

https://pasteboard.co/IoF8dbHz.jpg

Comment by RONNIE111 on Jul 19, 2019 7:55am
I agree that the main thing holding back Core at this time is the presence of Sedun (and his little friends: Bailey, Clough and Wong).  The share price will stay sub 20 cents as long as a proven destroyer of companies is lead director.   Those four must be gone, and we know for sure that they can not try and pull off another attempt to destroy Core. My list of positive results of ...more  
Comment by bailey2 on Jul 19, 2019 8:12am
Congrats to fellow shareholders, and in turn Mr. Piggott. It is now time, right now, to have Mr. Piggott come forward with his publicly stated financing alternatives with Zhaojin mining. Hopefully a public statement will be issued by Zhaojin, with the terms being that the board be replaced. I believe that for the survival of Coregold, the directors will have no other choice but to resign. glta
Comment by rjm316 on Jul 19, 2019 9:24am
Now what becomes of the 3 million$ breakup fee?
Comment by merlin991 on Jul 19, 2019 9:37am
There will be none. It is a mutual agreement to terminate the deal. So it's a simple walk away by both. End of the sorry saga. The board and CFO will eventually get their just desserts but meanwhile lets get on with business....
Comment by flashcash on Jul 19, 2019 11:15pm
I agree with this statement, in the interests of the company the board must leave after a successful deal. We all here to make money and this sorry mess goes away. Let see what Keith brings to the table. GLA
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