Carlisle Goldfields Limited T.CGJ

Abraham Peter Drost

[NycePrice]

He served as the President at Sandspring Resources Ltd. from November 24, 2009 to September 21, 2011. He is pretty good at Getting deals done

That is during the Period SSP raised over $100 Million for Proving up the current 15 Million Ounces. which Btw is exremely oversold. Last PP was done Last Month @ $0.20....30 days Later 15 Million oz Gold Junior trading at $0.10....crazy Market

[takeiteasy3]

I wonder how the cgj management did a so bad deal... It looks like lack of skills... I have a good example of a similar project that was appreciated at the correct value: B2Gold completed on Oct. 3, 2014 the acquisition of Papillon Resources Ltd by buying 352M share of Papillon at 1.6$ per share for $570-million. The resource estimation at Mali-based Fekola gold project is 5.1M ounce of gold. The

[hrattle]

The B2Gold/Papillon deal was about a 40% premium at the time of the offer, a 20% premium when it closed and today it would be a discount given that it was an all share deal. Drost seems to have rejected a 140% premium from Nord Gold in favour of AuRico - no way to know now whether he was right or not. The AuRico deal looks better but if POG drops below $1000/oz all bets are off. I think we

[takeiteasy3]

Of cause he was right to not accept the Nord Gold's offer: how to sell 5 Million ounce of gold resources in a open pit mine for $27M? Now, when I said a similar project between Papillon and Carlisle, I was referring to the 5 Million ounce gold resources in the ground. For sure, the share price 1.3$ of Papillon versus 0.04 of Carlisle at the time of the take over bid offer, reflects the

[hrattle]

I don't know Papillon's project but, and this is just a guess, I suspect the difference in shareprice might have more to do with the project than with management. Drost has been around a year and has managed to get $10m cash, $2m exploration and $20m development money, for a price of course but in this gold bear market that must be a positive. Clearly he now needs to grow the shareprice

[takeiteasy3]

I think, the only winner from this deal is AuRico. Please, believe me, there are almost two years since I am saying that it will take 6-12 months to grow the Carlisle's shareprice...