Carlisle Goldfields Limited T.CGJ

Urgent Attension Required!

[casher]

So I've done some more digging around over the weekend, and I found out that the AUQ placement is in fact not a 100% done deal.
Carlisle management is meeting with the TSX on Wednesday about this... and whether or not shareholder approval should be required.
We all know far we would get emailing Carlisle management and expressing our interest of the Nordgold offer.
I suggest that all shareholders email the TSX directly, and express their interest. We should be able to vote for either offer (personally favoring the 9.6 cents take over). I believe that the best case for all shareholders is a take-out. If we open the door for this to Nordgold you can bet Aurico will step back in with a premium offer and so on. I think the end game this company get sold for 15-20 cents minimum, and that is still pennies on the dollar of NPV.

Again managment meets with the TSX on Wednesday, lets get the emails flowing and make sure these important decisions are brought to the shareholders.

Joel Weinstein
Toronto Stock Exchange, Senior Manager, Listed Issuer Services
[e-mail]

[Winny1]

Casher, good stuff. Makes it really interesting in the next few weeks.

[casher]

Article from Mineweb: https://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=259670&sn=Detail Good read about the curernt situation - last line "So now we wait and see how the the TSX reacts. And perhaps more importantly we wait and see how much pushback Carlisle gets from its shareholders with some cash on the table." get those emails flowing to

[hrattle]

No one expected a shareholder vote on the AuRico deal so I doubt if the TSX will interfere (no exchange likes making management decisions) but watch the shareprice - the market will signal the likelihood of the Nord Gold "offer" being realistic. Of note is that millions of shares traded well below Nord Gold's 9.6 cent non-offer, which is a strong indicator that it will go no further.

[99999gold]

what a pickle for Aurico this deal is. If aurico is going to spend 30m on exploration, why not just offer it now for shareholders? because mgmt are incompetent fools and they got taken by aurico on this deal. Long term it may pay out but time is money and value of money over time is well you all know the line here.... The tsx will not interfere on this but you can guarantee that this story is not

[hrattle]

Don't be too quick to thank the sellers as the buyers may be speculators (like you?) who will flip this if Nord Gold walks away. This could cause mass selling and a drop well below 5 cents. It does surprise me that nearly 30m shares (over 10% of the company) can change hands in a week and the shareprice remain more or less flat. Clearly some games being played.

[99999gold]

I've got a bid out there for 1m shares at 4c if holders want want to dump it, if aurico can spend .08 I can spend half that. buying it .045c/5c last week and am up .005c I can dump it all now and leave it all to you guys but I won't because I think it's worth at least 8c - what aurico paid for their shares. I bought 2m shares last week.

[hrattle]

AuRico paid 8 cents / share to get 19.9% in a placement - the dilution effect is such that CGJ shareprice should have moved up to 5.5 cents - which is exactly what it did. CGJ now has 355m shares outstanding. Good luck dumping 2m shares - I hope 5.5 cents holds for you.

[99999gold]

you don't think it won't? then I'm selling it. 

[casher]

No one expected a vote because mangment didn't want one. They knew Nordgold was interested by yet they went with a financing deal from Aurico instead. This will cetainly go futher as the 30 milion shares that have traded would surely vote for the Nordgold offer. Plus as I mentioned before the final price will be much higher than 9.6 cents. And you're wrong the majority of the shareholers

[hrattle]

Casher - you have no idea who bought the 30m shares and what they would do. Most likely these are trades with very little accumulation, hence the shareprice has stayed flat. Any accumulation is likely to dump at the first sign that Nord Gold is walking away. Of course it would make sense if Nord Gold was accumulating but it is possible the agreement with CGJ prohibits this. Bruce Reid on his own

[casher]

Doesn't Matter who bought the 30 million I guarentee you they are smart enough to go for a buyout and at least double their money in a short period of time. No one is looking to stay around here for years to make a buck. Plus at the end of the day CGJ shareholders will be lucky to own 40% of the company which is becoming worth less with this dilution. Everything hinges off the AUQ deal being

[99999gold]

why would AUQ pay 9.6 now? at least back up your theory with something realistic situation that would force their hand?  I particularly don't see it an offer from AUQ but I do expect Nord Gold to actually put forward the offer w/o mgmt permission - that's what I meant on my previous about AUQ being on a pickle, mgmt tried to pull a "fast one" on AUQ to take the PP at 8c

[casher]

I'm saying in Nordgold goes hostile I would expect Aurico to come back with a superior bid. It's obvious they are both interested. And considering AUQ was willing to spend $25 million on exploration to own 51-60% they would surley be ready to pay up $40 million for 100% and that's what they may end up having to do if they want this asset. That would be ~13 cents and only 10% of NPV

[hrattle]

Yes, this is possible - I don't think so but it is plausible. However, if management knew Nord Gold would make an offer they are probably prepared to defend against it. My own view is that they encouraged Nord Gold to make an offer and when they didn't they went with the next best deal. They had to do something - they have bills to pay and no cash. Management in general would be happy to

[99999gold]

its not employment that's an issue, its the holdings that they have in cgj. Would you say that they're mostly underwater? Have you seen any buys from these guys at these level?  In any case this is all moot.

[hrattle]

Bruce Reid inherited around 3m of his shares (zero cost to him), the rest were acquired at prices from 5 cents to 27 cents - my guess for his average price is 8.5 cents. I'm sure Nord Gold would reward management in some way - they always do as they are in the same business - they would probably be granted options in Nord Gold. Yes, management bought millions of shares at 5 cents

[hrattle]

Do you think the 30m were "real" positions or just trades e.g. buying and selling repeatedly with a net zero position? How do you explain no movement in the share price? I keep saying 9.6 cents because that is what Nord Gold have said and even then it isn't an offer. As for you saying it will go much higher - I listen - I just choose to ignore unfounded speculation. AuRico don't

[Trader24]

I was thinking more like .60 to .70 cents with over 10 million ounces in a open pet mine. This thing is worth much more. happy times coming.