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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (16774)	3/29/2016 9:24:30 AM
From: Goose94	Respond to of 202371

Columbus Gold (CGT-T) boss Robert Giustra sees it, Eastmain Resources (ER-T) management is so entrenched there was no reason to even attempt a friendly approach to the company. Mr. Giustra says, "The overwhelming consensus was that many other companies have tried and been turned away, so there was no point." Columbus launched a proxy fight against Eastmain on Monday. It is an unusual example in Canada of one public company trying to unseat the board of another. Mr. Giustra argues that this was the best option. He is not interested in a formal takeover bid, in part because he says that not enough information is available on Eastmain's Clearwater gold project. While Mr. Giustra thinks the Quebec project has a lot of promise, he assumes Eastmain would block any request to see the private information. Instead, he hatched a bold plan to replace Eastmain's directors at next month's annual meeting, and then quickly open up the company for a potential takeover or other transaction. Columbus may get involved in this process, but Mr. Giustra says there is no guarantee. Eastmain head Don Robinson dismisses Mr. Giustra's claims as utter nonsense.