Wednesday, February 23, 2011

CMM and WTG - same day meetings set (April 12, 2011)

Glorieux, thanks for giving us a heads up on the blog about the Century meeting.

I have an interesting addition.

White Tiger Gold has set up a meeting of their shareholders for the same day - April 12, 2011.

There are many possibilities:

1) CMM and WTG merge, only
2) CMM and WTG gets gobbled up by Polyus at the same time
3) CMM and WTG merge, then the combined company gets acquired by Polyus a few months later
4) The CMM and WTG meetings are unrelated, just coincidence
5) Other


Here is the WTG SEDAR meeting info:

February 22, 2011Ontario Securities Commission
TSX
March 8, 2011
Dear Sirs,
Re: WHITE TIGER GOLD LTD.
We are pleased to advise you of the details of the upcoming meeting of the Security Holders of
WHITE TIGER GOLD LTD.:
Meeting Type: Special Meeting
CUSIP: G9619M108
Meeting Date: April 12, 2011Record Date for Notice: March 8, 2011
Record Date for Voting: March 8, 2011
Beneficial Ownership Determination Date:
Class of Securities Entitled to Receive Notice: COMMON SHARES
Class of Securities Entitled to Vote: COMMON SHARES
Meeting Location: Toronto
We are filing this information in compliance with the Canadian Securities Administrators' National Instrument 54 - 101 regarding Shareholder Communication, and in our capacity as the agent for WHITE TIGER GOLD LTD..
Regards,
"LEIGH MICETIC"
LEIGH MICETIC
Client Services
c.c. CDS & Co.


Here is the Century Mining SEDAR Meeting info:

Date: 22/02/2011510 Burrard St, 3rd Floor Vancouver BC, V6C 3B9 www.computershare.com
To: All Canadian Securities Regulatory Authorities
Subject: CENTURY MINING CORPORATIONDear Sirs: We advise of the following with respect to the upcoming Meeting of Security Holders for the subject Issuer:
Meeting Type: Special Meeting
Record Date for Notice of Meeting: 08/03/2011
Record Date for Voting (if applicable): 08/03/2011
Beneficial Ownership Determination Date: 08/03/2011
Meeting Date : 12/04/2011Meeting Location (if available) :
TBA
Voting Security Details:
Description
CUSIP Number
ISIN
COMMON
15662P101
CA15662P1018
Sincerely, Computershare Trust Company of Canada / Computershare Investor Services Inc. Agent for CENTURY MINING CORPORATION

6 comments:

real_economics said...

Of the 5 possibilities, #4 is the LEAST likely in my opinion.

This appears to be a very bullish event for us in the near term, though I admit I have some mixed feelings about this happening so early given how we all know how extremely undervalued we are vs. peers.

Cheers,
RE

Gilmourr said...

Few questions if someone can provide some information

1) We might be getting taken over by white tiger gold for an intended price, say something that's quite low compared to our forecast like $0.90. If they're trying to suppress the price through selling at about less than $0.70, would it not be fair to reasonably assume that buying here has a severe upside? If we get taken over, anything we buy now up until takeover will be about a 30% return. If we do not get taken over, I'd be equally as happy getting price appreciation over the next while. We all know Century has amazing assets, does anyone see a downside to this?

2) How much is Finskiy's current ownership in Century atm? If someone can provide a link or something that would be great

3) What rights do we have as minority shareholders against a takeover if this is considered to be NOT in the best interest of Century


I appreciate any answers given, TY!

bigjohn37 said...

Hi Production 05,
Interesting "coincidence" of meeting dates, indeed! I checked the directorship of WTG on Bloomberg, and they are: Maxim Finskiy, Execitive Chairman; Geoffrey Cauley, CEO; Fran Scola, Sergey Chalykh, Edward Sugar, Robert Armao and Ram Ramachandran.
Meanwhile, Carib's poll indicates that most of us would consider anything less than $1.50 an "unfair offer" for our shares.
The question is: are we ready to fight for fairness?!!

dave peters said...

If you believe it, WTG CEO Geoffrey Cowley says in this article that WTG has no interest in competing with Polyus.

http://www.miningweekly.com/article/new-tsx-gold-listing-seeks-1mozy-by-2016-2010-12-31

production05 said...

``Before the placement, Intergeo indirectly owned 97% of White Tiger.``

Intergeo is the mining and exploration arm of Onexim (Finskiy is the CEO of Intergeo).

Essentially, Onexim is the private investment fund that exists to manage the wealth of Prokhorov.

Prokhorov owns most of Polyus.

In a nutshell, it is Prokhorov that currently owns almost all of White Tiger Gold.

As such, it would be in Prokhorov`s best interest to merge WTG and CMM together, then leave them separate for now (and not roll them into Polyus - at least for a few years).

Prokhorov would then be able to make a killing on a combined WTG-CMM company by using WTG-CMM as a North American based vechicle to consolidate small producers and advanced stage assets, and also fast track organic growth.

Institutions would support it due to Prokhorov`s deep pockets backing it (as long as he treats minority shareholders well of course).

Assuming Prokhorov has called the meetings to merge WTG and CMM together, it will then leave 2 vital questions unanswered:

1) Will Prokhorov leave the WTG-CMM combo separate from Polyus, and allow it to act as consolidation vehicle - focused on small companies (while Polyus consolidates big producers).

2) Will Prokhorov try to lowball Century Mining shareholders or will he make an attractive enough offer.

As I`ve mentioned before, logic often gets suppressed with these guys. I have seen the little guys taken advantaged of too many times before to actually believe that this time will be different. I am hoping for the best though. Let`s wait and see what they have to tell us.

Wingfong said...

By the sequence of events, coincidental dates n personnels involved,I am inclined to thk that this Mikhail Prokhorov has design for TWA n CMM to merge.Also it does Look like a merged entity thus formed will be bullish for TWA n CMM sp short term. Hope we retails are not disappointed.