Resource Capital Gold Corp GDPEF

A few "more" added notes

[lmcbain]

I spoke with Jack today and got a bit more input on a few different fronts:

• with respect to the Corcoran sale:
  • the $2m cash has been received and spent
  • the shares that were to be received and transferred to ACT2 (Gary) for the last 10% of Dufferin are not being acquired and are therefor not being transferred - therefor Gary still owns the 10%. There will be no other form of additional payment other the NSR.
  • the NSR that RCG owns at Corcoran remains intact essentially in perpetuity
• with respect to Greg Gibson:
  • he has informed the company that he had been informed by "another board" he sits on that there were conflicts with some level of other board participation and that he needed to clea that issue up (resign)
  • there is no further clarification on the underlying reason for the resignation that I have been offered
  • Greg sits on mutiple other boards and so far has resigned from RCG only, that I am aware of. The only reasons I can think of for this would be either a conflict due to merger discussions that included both RCG and the other entity or a conflict over an acquisition whereby both RCG and the other entity were competing to acquire the same project.

That's all I can add at the moment.

Salut,
Leigh McBain

[kenmar]

 Questions for ya Leigh. 1.Was the Corcoran money already spent long ago as it came in, or was it held in an account until the deal was done? 2. Noticed they changed the meeting date from Dec. 14.Why did they amend the meeting date to 2 weeks later for December 28? 3. Did you notice Sprott was heavily involved in the latest Maritime financing (thanks for the Link Bob Moriarty).? Wonder if

[lmcbain]

1. Corcoran money is long since spent. The deal was essentially never reversible, so the funds were free to be used. The deal just had some closing components that had the potential to not occur. In this case the share issuance will never happen because the new company never launched, so they are not being transferred to Gary's company in payment for the last 10% ownership in the RCG projects,