Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Core Gold Inc -- Ignore unavailable to you. Want to Upgrade?

To: philv who wrote (2068)	10/2/2019 11:14:40 PM
From: pstad60	1 Recommendation Recommended By philv Read Replies (1) \| Respond to of 2131

Titan MInerals making another attempt to take over Core Gold, Here is a link to the Titan takeover circular. investi.com.au . Core Gold issued a response that shareholders should not take any action at present. . CORE GOLD RECOMMENDS SHAREHOLDERS TAKE NO IMMEDIATE ACTION IN RESPONSE TO UNSOLICITED TAKEOVER BID BY TITAN MINERALS coregoldinc.com In particular note the satement by Core Gold : "Strategic Review On September 17, 2019, Core Gold provided an update on its strategic review process of alternatives available to the Company, including equity or debt financings, core and non-core asset sales, strategic investments and joint ventures, as well as a potential merger of Core Gold with another company. The Company has requested that parties involved in the process formally express their interest in a transaction by not later than mid-October 2019. The Company remains committed to continuing its strategic review process." Notice all the plurals .... sounds like we have multiple interested parties coming to the table with an assortment of potential scenarios that the full board of directors will have to consider. Titan MInerals shares have little to no intrinsic value behind them, basically worthless pieces of confetti paper. The Titan offer immediately results in 690,879,131 outstanding shares of Titan Minerals, which has little cash and would have to raise substantial amounts of money, meaninig incredibly more dilution to follow, if Titan had any intention of developing Core Gold's highly prospective exploration properties. Consider the alternative March 2019 offer that Keith PIggott had negotiated with Zhaojin MIning, a 20% equity stake in Core Gold at $0.45 per share and a further combination cash purchase and committment to build a 2000 tpd mill for a 60% stake in Dynasty Goldfields. DIlution from the Zhaojin offer would have seen about 200 million shares of Core Gold outstanding, with Core Gold shares trading on the TSXV, and Core Gold would have been cashed up for work on their other exploration projects, as well as having the money to pay off outstading debts and upgrade their mill at Portovelo to 2000 tpd capacity. We could have been there already, if it had not been for the misguided antics of the 4 directors and CFO Sam Wong in attempting to ram the highly dilutive, unfair and unreasonable Titan plan of arrangement down Core Gold shareholders' throats in the first place. GLTA !