Tracking the relationships between various Golden Predator related entities... seems it is also relevant in relation to events in the Newfoundland Gold Camp... on which page I posted this today:
5. Platoro West Inc. (Canada). This one a bit tough to track down... apparently, as best I can tell without proofs of how various transactions legally crossed U.S., State, Canadian and Provincial jurisdictional boundaries, it is a privately (William Sheriff) owned Canadian Holding Company that seems it is an ill-defined residual of Platoro West Inc., (Vancouver) and/or of Platoro West Holdings, Inc. (Hayden, Idaho) ? Platoro West was a silver mining focused spin off from a holding company owned by William Sheriff / Golden Predator et al [(and/or related entities: Golden Predator Royalty & Development Corp. (“Golden Predator”), Strategic Metals Ltd. (“Strategic”), Rockhaven Resources Ltd. (Rockhaven)], after which spinout (as Platoro West of Vancouver in a deal done under an LOI ) Platoro then
changed its name from Platoro West to become Silver Predator.
From the Yahoo page description for Silver Predator: "The company was formerly known as Platoro West Holdings Inc. [and not Platoro West, Inc (Canada) from Vancouver as in the regulatory filings... or they are the same thing ?] and changed its name to Silver Predator Corp. in June 2010. The company was incorporated in 2006 and is headquartered in Hayden, Idaho. Silver Predator Corp. is a subsidiary of Till Capital Corporation".
Confusing matters a bit more, there are still a number of surviving Platoro West corporate instances other than that addressed here as a private company working in Newfoundland, with each still holding active leases, as in Arizona, Colorado, Nevada and Idaho... some having the same Idaho address being shared by a couple of related active lease holders in Nevada Royalty Company, Silver Predator US Holding Company, and Golden Predator US Holding Company. It's not overly clear who actually owns any of them.
More confusion occurs as both Silver Predator (and until recently, Golden Predator, also) has listed itself as a subsidiary of Till Capital Corporation TILCF / TIL.V However, Till's board apparently took some surprisingly aggressive and un-noticed action in regard to Golden Predator last year, trying to take over control of the board in a power play, thus causing William Sheriff and the rest of the Golden Predator board and management to resign. In subsequent negotiations they forged a separation agreement that allowed restoring the original board and management, while allowing Golden Predator to become independent... while Till Capital unconvincingly explained that its intent all along was only to find a way to get out of the mining business and re-focus on its primary business: which seems it is as a Canadian focused re-insurance house located in Bermuda.
However, Till's webpage (linked above) sports photos of gold... not smiling insurance agents and happy corporate clients... and it seems they've not left off dabbling in the mining businesses at all... while also naming themselves as the owners of "Till subsidiary Golden Predator US Holding Corp" ? Hmmm.
So, is Silver Predator now a subsidiary of Golden Predator (still / again ?)... or is Till Capital still in the mining business and still the owner of the erstwhile Platoro West (Canada) aka Silver Predator... and various other related entities... while having no intention at all of leaving the mining business ? All very Curious...
And, subsequent to the events of the Till board disrupting the board function and operations at Golden Predator, the former Golden Predator has now merged with the former (Sprott created) Arizona Gold (formerly Kerr Mining... run by Sprott associate Greg Gibson) to become Sabre Gold... while transferring Golden Predator's various interests in Yukon mines and (one presumes) some number of unnamed leases there to the new entity.
Who actually owns Silver Predator, Platoro West (in various guises and jurisdictions) and the leases in NL ? Hmmm, again...
Who owns Till Capital ? What put a burr under their saddle re Golden Predator (not too long after the 3 Aces deal with Seabridge)... and, why was Star Royalty... who were previously providing funding for the Kerr / Arizona Gold project's development... suddenly so insistent on arranging and seeing the completion of the merger with Golden Predator before meeting its [still unmet] ongoing financing obligations ?
It seems others are also concerned with the nature of and risks inherent in these murky relationships:
From the Exploits PR on upgrading corporate governance:
William M. Sheriff, Interim Chief Executive Officer said ”On behalf of the Board of Directors I wish to welcome Ms. Genik to the Exploits Board of Directors. Her global expertise in governance and sustainability will serve the Company immensely. I also want to thank the collective shareholders, specifically New Found Gold and Mr. Eric Sprott, for their complete support and endorsement of the Company going forward as we implement new corporate governance and swift actions [???] to uphold and respect the rights of all shareholders.
And:
William M. Sheriff, Interim Chief Executive Officer: Declaration of Interests
William M. Sheriff, Interim Chief Executive Officer also wishes to formally advise of his Declaration of Interests in Newfoundland & Labrador. Mr. Sheriff, who also serves on several corporate boards as identified on the Exploits Discovery Board of Directors page, [which is no longer accessible on the webpage, but, see below] is also a well known prospector. Prior to assuming the Interim Chief Executive Officer position at Exploits he, through his private company, Platoro West Inc, staked significant land holdings in Newfoundland and also entered into formal agreements with several Newfoundland/Labrador-based prospectors. Mr. Sheriff also owns The Rock Gold Corp, a private Newfoundland/Labrador corporation. Mr. Sheriff has ceased all activities relating to these holdings while serving as Chief Executive Officer.
Posted at the end of the PR announcing the CEO was stepping down for unspecified reasons... "has resigned from his positions as President and CEO, effective immediately. William M. Sheriff, Director, has been appointed interim President and CEO". This is the bio for William Sheriff:
An entrepreneur and visionary with over 30 years’ experience in the minerals industry and the securities industry and has been responsible for capital raises in excess of $300 million. Mr. Sheriff was a pioneer in the uranium renaissance as co founder and Chairman of Energy Metals Corp. and was responsible for compiling the largest domestic uranium resource base in US history before the company was acquired by Uranium One Corp for $1.8 Billion. Mr. Sheriff presently serves as the Executive Chairman of enCore Energy Corp. and Chairman of Golden Predator Mining Corp. Mr. Sheriff also serves as a Director of Ely Gold Corp. and Director of Group 11 Technologies Inc, a private company committed to the development and application of environmentally and socially responsible precious metals mineral extraction as an alternate to conventional mining methods. Mr. Sheriff previously served as a Director of Western Lithium USA Inc., Uranium One Inc., Midway Gold Corp., Eurasian Minerals Inc. and Starcore International Mines Ltd. Mr. Sheriff was also a registered representative, holding positions with A.G.Edwards and Mitchum Jones and Templeton, in addition to having his own securities firm. Mr. Sheriff holds a B.Sc. degree (Geology) from Fort Lewis College, Colorado and an MSc in Mining Geology from the University of Texas El Paso and compiled one of the largest privately held mining databases in the world. |
