Core Gold DMMIF

Titan's latest corporate "presentation"

[Tad]

As we all know ..... Titan still pretty muich zero in tangible assets other than the 9,151,363 Core Gold shares they had to borrow the money for, and still owe to their lenders, because Titan can't afford to pay the loan and had to extend the maturity date to the end of December. 


https://www.investi.com.au/api/announcements/ttm/868a23f6-89f.pdf


Pretty imprressive price chart on page 6 ..... steadily decreasing share price since December 2017. 




Oh, BTW,  interesting little tidbit on page 3: 

Brent MacFarlane, Proposed Ecuador Manager

Holds a BSc from University of Arizona in Mining Engineering

Former VP Operations for SilverCrest Mines, and previously with New Gold, Mine Finders, Knight Pisold and James Askew Associates

Extensive operational and development experience though South America, Central America and Mexico


Hmmm ..... Mine Finnders ..... Just wondering, does anybody else think that Core Gold director and CEO Mark Bailey might have "suggested" that recommendation to Titan Minerals, somewhere, sometime ? 


https://www.coregoldinc.com/corporate/management/


"Mr. Mark Bailey has been a director of the Company since September 2003. Mr. Bailey is a mining executive and registered Professional Geologist with more than 40 years of industry experience. Between 1995 and 2012, he was a Director and the President and Chief Executive Officer of TSX-listed Minefinders Corporation Ltd. ("Minefinders"), a precious metals mining company that operated the multi-million ounce Dolores gold and silver mine in Mexico before being acquired by Pan American Silver Corp. for approximately $1.5 billion"




Does anyone know if business associate of CEO Mark Bailey and Lead Director Gregg Sedun, Paul Matysek, still owns the 23,800,000 shares of Titan Minerals that he bought sometime between November 2017 and April of 2018 ..... 




On page 7 : 

Core Representation

It is proposed that post transaction, the Titan board will be expanded to seven and include three nominees of Core, ensuring that the company retain Core’s knowledge, skill set and regional expertise


Who are the three Core Gold board members that will be nominated for the new directors positions at Titan Minerals ?  Any guesses ?  ;-)

Obviously Keith Piggott has the most experience and regional expertise in Ecuador, (but doubt he's going to one of the nominees}  .... unlike Mark Bailey, who had only visited Ecuador ONCE as a director of Dynasty Metals and MIning / Core Gold in more than a decade on the board of directors prior to being appointed as CEO.




Conflicted ?


Anyone ? 


Multiple offers apparently to be considered, at least according to Core Gold's latest news release ... Only a couple weeks left  .


https://www.coregoldinc.com/news-releases/2019/core-gold-recommends-shareholders-take-no-immediate-action-in-response-to-unsolicited-takeover-bid-by-titan-minerals/


"Strategic Review

On September 17, 2019, Core Gold provided an update on its strategic review process of alternatives available to the Company,including equity or debt financings, core and non-core asset sales, strategic investments and joint ventures, as well as a potential merger of Core Gold with another company. The Company has requested that parties involved in the process formally express their interest in a transaction by not later than mid-October 2019. The Company remains committed to continuing its strategic review process."



GLTA

[LoveGOD]

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[Kenny2Dogs]

I really like the presentation. I think this demonstrates how this transaction comes together. Really solid Management with Marsland and Macfarlane. Finally we could have a board and management team who will grab hold of it and drive it forward properly. The projects together look really interesting and you can see how the investment market will see the Latin America opportunity. Given the recent

[Tapps88]

I thought the presentation looks great Taddyboy!  $8m in cash in the bank! They own our secured debt which is US$2.5m plus interest and growing. AND NO IT HAS NOT BEEN REFUSED OR RESCINDED BY THE TSX. IT IS CLEARLY OWNED BY TITAN. They own 6% of our company and are one of the major shareholders.  They own the Coriorcco gold project which looks exciting.  They have an earn in on Las

[Kenny2Dogs]

You are right Tapps. They look a hell of a lot stronger than us. The 2 companies look good together. 

[Pipes33]

$8m of cash in the bank plus they own our secured debt... They look not to bad to me! I will take their 45c offer. 

[djstone56]

I'm not so sure about the $8 million in the bank...or they wouldnt have had to push out the repayment of the US $3 million loan until December. It's a small point, but the offer is C $0.422, not 0.45...and that assumes their s/p stays at 0.18 until the proposed take over date. The last time they offered 0.024, (adjusted to 0.24 after 10:1 rollback), the s/p was down 40% to 0.15 when the

[Pipes33]

Their current price is 18c x 2.5 = 45c. Yep in Aussie dollars.  Share price heads north once they get 50.1%, which they will. It will hover between 17c-20c between now and then. On closing and undertaking a 20,000m drilling campaing Titan will head back to 40c+ really quickly. That is $1 per share based on a CGLD share.   Previosuly they announced the $20m cap raising and with Keith

[Twoscompany]

Nah I think you will find the bullets are in the bank. They raised $6m not long ago.  I think they are just keeping their options open in case they want to use some for strategic reasons. It is in the public statements but the people who lent are all the major shareholders so none are going to call in the money. In fact they will probably roll it into equity. 

[djstone56]

I knew about the recent $6 million raise...I just assumed that the bulk of that was already spoken for. They would have had significant legal and admin costs from the failed Plan of Arrangement, the purchase of $2.5 million debt from Vertex and the legal, printing and other admin costs from the 600+ page circular they just sent out. I know they have access to money...I understand that the ASX is a

[RRBC2019]

The people behind Titan have done exactly this. They take mismanaged companies and turn them around.  Galaxy Resources had a marketcap of $22m and $180m of debt. They helped turn that into one of the biggest Lithium companies on the ASX and now only has cash in bank( $200m)  and no debt.  Marsland took Naven Mining out of adminishtration ( it had similar issues to CGLD) and helped

[djstone56]

Sorry...maybe I wasn't clear. I'm aware of the two examples you cited...but what has Matt Carr, Titan, Mundo, Minera or Andina done...and how has that worked out for shareholders? All I've been able to find is a history of financings, huge dilution and shareholder's equity being whittled away to next to nothing. How do you see this as being different? djstone

[Pipes33]

Ha, the fact you mention Mundo/Minera in the same breath as Matt carr is interesting. You should check the public records and corporate records. It is completely false to link him with them. Everyone in Australia knows this. Matt car never had anything to do with Mundo nor Minera. Different baord, different managment, essentailly different companies.  Titan was a company reborn from Minera

[djstone56]

I wasn't equating Matt Carr to Mundo/Minera...just pointing out the 3 "lives" of Titan. I am equating Mr. Carr to Andina tho and part of Titan's argument that they have no responsibility/liability for the environmental issues at the Tulin plant because it was Andina, not Titan. Matt Carr was on the Board of Andina while this was playing out. It's hardly a stretch to link the

[Spiritflyer]

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[Pipes33]

I spent the weekend reading the circular. I think it has addressed all of the issues and when you read it properly you see Keiths accuasations are actually none issues. Just a hell of a lot of noise.  This team coming in does have an impressive history and I feel confident they can deliver for us. 

[Tad]

It appears the SnowWhite and his dwarves from the Hotcopper forum are enjoying their visit here on Stockhouse  ...... right Luis ? Do not tender your shares to Titan. Wait for the other offers to be considered by the full board of directors. None of the directors have taken any action, neither should anyone else. All Titan can do us offer you basically worthless paper for Core Gold's

[Tapps88]

Taddyboy! My 65 year old retiree who has fought a good fight for the noble cause of self pity and loathing the success of others.  You bought your stock at $5 per share and are angry with the world, and is willling to say anything to misrepresent the truth on behalf of the most unsuccessful EX CEO in corporate histroy. The one and only Keith Piggott.  You constantly fail to tell the

[Tad]

Ah yes Tapps88 ( SnowWhite ) posting inaccurate information once more.  I suppose you're a little envious that I've been retired for 5 years now, but I won't be 60 until later next year. I must admit, I was fully expecting to be tackled " Aussie Rules Football " style at the Core Gold AGM earlier today by your "buddy" Matt Carr .... but he was a no show

[Rogeram]

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[Tapps88]

Oh...ps Taddyboy. The tide is turning, no one believes you or Piggott anymore. Too many promises and stories that never eventuate. Liar liar!

[Tad]

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