Regarding The Zhaojin MIning letter to shareholders and today's BCSC Hearing
The following is just my humble opinion.
When reading through the January 7 2020 Zhaojin MIning Industry letter to shareholders, you have
to wonder how the Core Gold BOD4 managed to screw up the original Sept 2, 2019 offer so badly.
and we ended up with the final offer presented in the same letter from Zhaojin ?
https://stockhouse.com/companies/bullboard?symbol=v.cgld&postid=30532466
Aren't inital offers supposed to get better as negotiations proceed ? Usually .... so what exactly did
the BOD4 do or say that had Zhaojin's offers decrease in the amount of upside potential that Core
Gold shareholders would have been exposed to with the September 2 offer, to the point where we
would get more cash per share, but substantially less upside participation and the loss of producer
status with the mill going to Zhaojin in the final offer as well, including losing the Cabo de
Hornos underground mine at Zaruma too ?
We would have had a 60% share of all revenue from oxide material mined from Dynasty Goldfields ...
how the hell did we lose that ?
What was said?
Did one of the BOD4 give it away in negotiations ?
What was PI Finaicial's opinion of the first offer by Zhaojin Mining ?
It was either total incompetence on the part of the BOD4, or there was a deliberate attempt to sabatoge
the negotiations by members of the BOD4.
Titan Minerals remained halted all through the summer, supposedly licking their wounds from the defeat
of the plan of arrangement in the B..C. Supreme Court.
Isn't it amazing how Core Gold BOD4 refused to respond to Zhaojin Mining until Sept 11, 2019 and on
Sept 14 informed Zhaojin's offer "would not move forward on an expedited basis" .... and then .... like
magic .... on September 16, Titan MInerals announces it's intention to pursue a hostile takeover offer
of Core Gold.
And shortly thereafter, the perceived offer price was announced and was more or less a penny higher
in perceived value of Tiitan MInerals shares than the Sept 2 2019 Zhaojin MIning offer.
HOW WOULD TITAN MINERALS KNOW WHAT ZHAOJIN MINING HAD OFFERED UNLESS
THERE WAS INFORMATION CONVEYED TO TITAN MINERALS FROM A MEMBER OF THE
BOD4 OR A SENIOR MG'T OFFICIAL ???
Spin, rinse, and repeat the exact same scenario with Titan MInerals increased offer to the 3.1 pieces
of condfetti paper Titan offered on December 16, 2019, giving it just a little higher perceived value than
the November 25 and subsequent December 12 non-disclosed Zhaojin Mining offer. Zhaojin's
November 25 2019 offer was once again not responded to by the BOD4 and state that they had to
send yet another letter to Core Gold's board asking why it had not responded to Zhaojin's offer.
Well, we all know what happened between November 25 and December 6 2019. Directors
Javier Reyes ( Credipresto 15,770,171 shares and Investabank 4,116,073 shares) , and
Gregg Sedun ( Alcaron Capital 6,562,000 shares), signed lock-up agreements on behalf of
associated parties using non-disclosed material information that was not available to minority
shareholders. They signed those agreements while telling minority shareholder to take no action
regarding the TItan MInerals hostiile takeover offer. Those share totals, if not tendered by these
two directors would reduce the percentage pledged to Titan Minerals substantially under the
50% threshold.
The acttions by Javier Reyes and Gregg Sedun appear to have deliberately sabotaged the
entire negotiation process with Zhaojin MIning, exactly as Core Gold guidance stated could
happen in their October 15, 2019 news release :
https://www.coregoldinc.com/news-releases/2019/core-gold-announces-filing-and-mailing-of-directors-circular-in-response-to-the-unsolicited-takeover-bid-by-titan-minerals/
"The Board of Directors therefore advises that Core Shareholders do not tender their Core Shares
until further communication is received from the Board of Directors. Further communication is expected
to be sent on or before January 7, 2020. The Board of Directors notes that tendering to the Titan
Offer before the Company has had an opportunity to fully explore all available alternatives
may preclude the possibility of a financially superior transaction emerging. Any Core
Shareholder who has already tendered his or her Core Shares to the Titan Offer should withdraw
those Core Shares until such further communication from the Board of Directors is received."
Shows about as much ethics and morals as a couple of racoons in a garbage can.
Up this way we dispose of such vermin in a most expeditious manner. I trust the BCSC panel will
see through all the Bovine Scatology wordcrafting that Core Gold legal counsel Quentin Markin is
most likely going to dish up in his latest sop story to the authorities.
The B.C. Supreme Court Judge saw through it all, I would expect that the individuals on the BCSC
panel hearing today have been going thorugh all of the past 10 months worth of filings submitted by
dozens of Core Gold minority shareholders and will shut this entire hostile takeover offer down. People
like the BOD4 have no business having any position of authority and responsibility as directors
or management of any publicly listed company after their actions showed nothing more than blatant
self-interest, using confidentilal, non-dislcosed insider information, at the expense of the minoriity shareholders.
All just my opinion, and I could be wrong. .... but I doubt it.
DO NOT TENDER TO THE TITAN MINERALS HOSTILE TAKEOVER OFFER
GLTA !
Originally posted on Stockhouse::
stockhouse.com
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