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Gold/Mining/Energy : Core Gold Inc

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From: pstad60	11/5/2019 10:48:36 AM
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Just a reminder, ..... an excerpt from Core Gold's October 15, 2019 news release .... coregoldinc.com "The Strategic Review has resulted in several non-binding indications of interest. At the date hereof 17 parties have signed confidentiality agreements with Core in order to conduct due diligence activities. Nine parties have requested or conducted site visits. The Board of Directors considers that the continuation of the Strategic Review process and, in particular, providing sufficient time to interested parties to complete their due diligence activities and for the Board of Directors to evaluate their level of interest, is vital to identifying the transaction that is in Core Gold's best interests." . I believe the review of offers has now begun, as CEO Mark Bailey stated at the AGM that the bid period was being extended to the end of October to accomodate additional site visit requests from potential suitors. We should be hearing something in the next week or two. Is Zhaojin MIning still interested in some kind of partnership arrangement with Core Gold ? Recall the foillowing ..... Former President and CEO Keith Piggott negotiated a deal with Zhaojin Mining Industry that was for a 20% equity stake at $0.45 per share, and a 60% share of the Dynasty Goldfields for a total investment in our company of approximately US$100 million by Zhaojin MIning Industry. The outstanding shares would have been about 200 million and Core Gold shareholders would have had a 40% share in all the upside potential of Dynasty Goldfields exploration and the same share of all revenue generated from the brand new state of the art 2000 tpd mill that Zhaojin Mining would have built on Dynasty Goldfields. Core Gold would have maintained 100% control of the Zaruma Project, the Copper Duke Project and the Linderos Project, plus the assets of the Jerusalem Project if the company is successful in regaining control of Jerusalem in the future. Core Gold shares would continue to trade on the TSXV. If Zhaojin MIning was interested in our company back in February / March with gold trading at $1300 / oz, I am farily confident with gold hovering around the $1500 / oz level that Zhaojin Mining would be one of the companies involved in the current bidding process. GLTA

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