share structure: (ex website)
undiluted shares: 67.1m shares
options: 5.2m shares
Main Shareholders: (ex sedi)
Ontario Ldt (controlled by sprott)
8.8m shares
You don't need to say much about it. Of course, not everything that attacks Sprott turns into gold * lol *. Has bought massively in EM in the last year. Howevery, the Alderley merger was a visible trigger for the massive acquisition
Panbournce Alan - ceo + director
7.4m shares (from 10m shares fusion)
formely owner of about 74% of alderley investment ltd
approx. 10 yrs research, licensing and development in alderley technology
Cheaspeake chosen as most fitting
no insider holdings in other publicly traded companies
Palmedo Peter Franklin - former director (2007-2013)
sun valley gold company 2.3m
or sun valley master fund ltd - 4.8m shares = approx. 5% of the hedge fund
Palmedo founded Sun Valley Gold LLC ("SVG") in 1992 and serves as SVG's current president
https://mineralfunds.com/wp-content/uploads/2019/10/102-A-Su…
https://privatefunddata.com/private-funds/sun-valley-gold-ma…
https://www.sunvalleyinv.com/
Reifel, P - director
4.6m shares
director Chesapeake since 2003
no other insider holdings
Dhatt Taje - director
cofounder alderley
2.1m shares (from 10m shares merger)
no other insider holdings
other directors
approx.1.2m shares
-------------------------------------------------- ---------------------
Insider Holdings: approx. 31m shares = 46%
My conclusion:
Mr. Panbourne has brought his own - 74% stake - company in Chesapeake and secured the CEO position. Fusion value approx. 45m CAD. He selected Metates as the most fitting deposit to increase his capital. The licensed and further developed oxidation technology that has been brought in is to become the cornerstone for expansive increase in value. Mr. Dhatt, who brought in approximately 21% of Alderley, was appointed as director. Under President Mr. Reifel, who has been in office since 2007, the team was completely switched to focus on Oxidation Technology. It is not a 'lazy' merger deal. The stored shares are only released, strictly regulated according to milestones. The last KE, when the deal with Alderley was already being announced, was signed by Sprott and former director Mr. Palmedo. With 46% insider holding and specially contributed capital under the leadership of a 'top-class' team, you couldn't ask for more commitment and focus.
Investigated Sedar Reports:
Transaction Agreement Alderley Fusion
Under the terms of the Agreement, Chesapeake will issue 10 million common shares ("Common Shares") to the shareholders of Alderley (the "Alderley Shareholders") resulting in the Alderley Shareholders holding approximately 14.2% of the outstanding common shares of the Company on a fully diluted basis. The Alderley Shares will be issued into escrow with release based on time and milestone conditions over 7 years as follows:
a. 5% released on each of the first four anniversaries of closing;
b. 10% released on the earlier of (a) date of a positive feasibility study and (b) the fifth anniversary of Closing
c. 30% released on the earlier of (a) duly certified commencement of construction of a mine and (b) the sixth anniversary of Closing;
d. 40% released on the earlier of (a) duly certified commencement of commercial production and (b) the seventh anniversary of closing.
This escrow release structure confirms the commitment of the Alderley Shareholders to the future development of Chesapeake and aligns their interest in creating long term value for all shareholders. The transaction is subject to approval of the TSX Venture Exchange
Transcript Alan Pangbourne (required reading)
https://articles.cruxinvestor.com/transcript-chesapeake-gold-ckg-new-technology-gives-new-hope
Peter