Why did management arrange the fundraising so that Dundee would for all intensive purposes have control if and when it comes to any vote?
Dundee was likely responsible for the change in the chairman of the board position.
Dundee has a lot of money invested now and is underwater. they must feel that they might be better at moving the company forward.
If it was Palmiere, which seems clear now, who sold the 47 million shares to Dundee on Sept 23 why would he do that two days before becoming chairman of the board? Either he is in to shut the company down (doesn't make any sense after they just raised $8 million), That would likely be unethical.
More likely that since he is chairman now, the company will eventually do a deal that perhaps it would not look good as a major shareholder. Some sort of arm's length deal??
If the new Chairman has no faith, he wouldn't keep holding millions of dollars in shares. But, MAE would never take that person on to be the new Chairman after knowing he just dumped all his holdings. There is no report on sedi that he sold.
Something is up with this company. New controlling partners, new Chairman, cash in the bank. No news. I don't know what, but I think that Dundee would not have just put another $4.5 million into it without some sort of confidence.
So how long till we find out....don't hold your breathe.
You get lawyers involved, things take a long time. I'm hopeful something will happen in the next year or two.
Until then.... Dundee doesn't really care what the share price is.
Quicker would be better.
| Insider name: | Palmiere, Allen J. | |
| Insider's Relationship to Issuer: | 4 - Director of Issuer | |
| Ceased to be Insider: | Not applicable | |
| Security designation: | Common Shares | |
| | | | | 4218398 | 2023-11-30 | 2023-12-05 | Control or Direction :
Gold Resource Canada Corporation | 00 - Opening Balance-Initial SEDI Report | | | | 47,000,000 | | | | | | | | |