Resource Capital Gold Corp GDPEF

****RCG CORCORAN SILVER PROJECT****

[LOCKDOWN]

Can anyone shed some light on the Cororan sale and if the details of the sale will stay the same on completion of sale ???
1 AUSAG  share for every 4 RCG shares owned was there a cut off date fixed to this sale or is it open until the final approvals are met ??? Can anyone clarify this for me it would be appreciated!! Thanks

[damianchosenone]

Hey! They are not getting any shares 1 to 4. In fact, right now I am not sure what is goign on with Corcoran as there was a company in Australia ( Ausag) who paid for this Corcoran project, and then changed their name to metals 479. Metals 479 tried to list on the Australian stock exchnage and had their prospectus listed, howver Hunter Capital was not able to raise enough money from subscribers

[lmcbain]

Quick answer to the AUSAG question: Everyone is currently waiting for final Exchange approval of the deal, everything else is essentially done. The cash component of the purchase of Corcoran has already been received and realized as an increase on investment and the funds have been spent. The AUSAG shares that are to be issued once the deal is done will not be issued until the final Exchange

[LOCKDOWN]

Thanks for the information on Cororan i  appreciate it ,thanks again!

[damianchosenone]

Ausag changed names to Metals 479! Metals 479 tried to raise a 7 million dollar IPO in Australia ans list on the ASX and failed; this was backed by Eric Sprott, they failed!!!! In fact, I spoke to an investor in Australia that didn;t want any part of it because he heard Sprott wa sbacking it; no idea why! Corcoran was sold to Ausag and the 1 to 4 shares were scrapped and restructured to a net

[phaaser]

I agree its very strange. At the time, I took them taking the extra Dufferin preoperty as a very bullish sign as they had already be mining at Dufferin for nearly 12 months so why else would they expand the property if they weren't absolutely sure by then Dufferin was a go. In hindsight it seems to just have been everyone scratching each others back more than and any gold being produced

[Jherek]

I initially thought the same thing, Phaaser. I wonder how Sprott must feel with all of the money he spent with RCG while losing share value over and over.