Throughout all the trials and tribulations of Core Gold , formerly known as Dynasty Metals and Mining, from the highs of +$11.00 back in 2007 to the lows of $0.11 in April of 2016, this has generally been a civil forum.
Let's try to keep it that way by simply not engaging the few ne'er-do-wells who have recently infested this forum.
For all new readers of this forum, please consider the following and decide for yourselves who was looking out for the best interests of Core Gold and its long term shareholders :
Former President and CEO Keith Piggott negotiated a deal with Zhaojin Mining Industry that was for a 20% equity stake at $0.45 per share, and a 60% share of the Dynasty Goldfields for a total investment in our company of approximately US$100 million by Zhaojin MIning Industry.
The outstanding shares would have been about 200 million and Core Gold shareholders would have had a 40% share in all the upside potential of Dynasty Goldfields exploration and the same share of all revenue generated from the brand new state of the art 2000 tpd mill that Zhaojin Mining would have built on Dynasty Goldfields. Core Gold would have maintained 100% control of the Zaruma Project, the Copper Duke Project and the Linderos Project, plus the assets of Jerusalem Project if the company is successful in regaining control of Jerusalem in the future. Core Gold shares would have continued to trade on the TSXV.
Keith Piggott was terminated as CEO and President for his attempt to bring this far superior offer to the board, and for refusing to agree to the amendments of the original Titan / Core plan of arrangement that terminated the 60 day go shop period and increased the break fee to $3 million. The B.C.Supreme Court ruled to that effect.
https://www.siliconinvestor.com/readmsg.aspx?msgid=32256504 Core Gold shares would currently be trading well in excess of $0.45 with a major investor involved with our company.
-----------------------------
The following “Titan deal” was being promoted by Lead Director Gregg Sedun, and directors Mark Bailey, Leonard Clough and Javier Reyes, as well as CFO Sam Wong :
An all paper offer of approximately AUS$72 million in perceived value of the highly manipulated share price of Titan Minerals, a company who’s tangible assets were/are worth no more than approximately A$10 million and it was later discovered that Titan Minerals and/or some of the principals of Titan are potentially on the hook for up to $45 million in environmental liabilities for the illegal disposal of cyanide laced tailings and could also face criminal charges in Peru .
The outstanding shares of the newly merged company would have been about 7.5 billion shares and after a 10:1 rollback would have been approximately 750 million shares. Titan made subsequent announcements that an additional 10% dilution would be made and also requested through regulatory filings that they would also seek an additional 15% further dilution within the upcoming year. The newly merged company would have had in excess of 900 million shares trading only on the Australian Stock Exchange and Core Gold shareholders would have been diluted down to about a 30% stake in this newly merged company.
It is no wonder that the British Columbia Supreme Court ruled that this Titan Core plan of Arrangement was not fair and reasonable.
https://www.siliconinvestor.com/readmsg.aspx?msgid=32256504 And why were thee BOD4 and CFO Sam Wong pushing the garbage deal with Titan ?
Read the links provided in the following post :
https://stockhouse.com/companies/bullboard?symbol=v.cgld&postid=30138351 Possible conflicts of interests ... just maybe ?
All that Titan MInerals did, (and may attempt to again), was to offer worthless confetti paper to Core Gold shareholders. The market is well aware of this fact and the reason that Core Gold shares are not running up to the $0.425 that Titan may offer in the next couple of weeks.
As far as I am concerned, the only reason Titan is making any noise now is in an attempt to push up the CGLD shareprice in order to see a better premium price that would come from one of any number of potential suitors currently in discussions with Core Gold. When Zhaojin Mining Industry made their offer of partnership, gold was trading around $1300. With the $200 increase in gold 's price that has occurred since the original offer from Zhaojin was presented, one would think that an even better deal will come forward in the next few weeks.
Would Zhaojin MIning consider coming back to the table, after being disgracefully insulted by the BOD4 and CFO Sam Wong in March ?
Are other suitors considering why Zhaojin made the offer they did ? Do they see the potential of Core Gold that Zhaojin saw?
Will there be a better offer made by anoither suitor than Zhaojin's original offer of partneship ?
Titan Minerals is nothing more than a pretender, all they really have as a tangible asset is the 9,151,363 shares of Core Gold that they obtained in March 2019 and even had to borrow the US$3 million to pay for the shares, and had to put the CGLD shares up as collateral for the loan .....Seriously .... And this was agreed to by our glorious BOD4 and CFO Sam Wong. Now Titan has announced that the original 6 month term of the loan has been extended for another three months to the end of December, probably because Titan does not have the money to pay the loan
The TSXV is now investigating the events surrounding the restructuring of the Vertex Promissory Notes which Titan has apparently obtained sometime in August.
Shenanigans ..... deception .... deceipt .... Ignore the misleading rantings and false accusations now being posted.
Less than a month to find out what other suitors will be offering.
Stay tuned.
GLTA