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I have abstracted the followings among the many posted comments over the past few days. Suggest those who are unaware spend a bit of time to read them for they mean we are moving forward to the next level:- 1) Posting "Contact Business News Network" by JOAR dd March 21 2011 a) Fredericton said he had emailed BNN about our case... 2) Posting "Should we be launching a co-ordinated media campaign?" by doc dd March 18 2011 a) Ron S said he had contacted John Helmer who lives in Russia and has knowledge of Russian players including Finsky.... b) Gonefishing said he had a long telephone conversation with Fair For All (the same Fair For All who had registered the block of 46.2 million dissenting votes(shares)) and Fair For All has had an initial correspondence with Prod05...
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"The Lender and the Borrower have entered into a letter of intent dated January 24, 2011 and accepted by the Borrower on February 8, 2011, as restated and amended on February 17, 2011 and accepted by the Borrower on February 18, 2011 (the “LOI”) pursuant to which the Lender made a non-binding proposal to acquire all of the issued and outstanding securities of the Borrower pursuant take-over bid or plan of arrangement;"
This makes me furious on two counts:
First, it proves Century Mining was lying when they said that the $800M bridge loan was needed because of the cone crusher failure. Why would the be borrowing money 2 weeks before it happened?
Second, it proves this has been in the works for a very long time. Daniel Major knew about this:
- during the Feb 4 Conference call
- during PDAC conference
- during March 8 press release
So for him to flat out LIE to shareholders and say CMM was first approached by White Tiger for a merge in March???!!! What is the son a bitch thinking? We wouldn't find out or what?
CB, Nick n TraderJoey..I share the same indignation as U. This ceo is mean & truly had betrayed the trust of we shareholders (of course Fin is pleased with his contributions) I am sure all retail investors will come to know of his dirty game, this outrageous betrayal
CB, later on in the document (a paragraph or two down) it clarifies that it was a $300K bridge loan BEFORE the ore crusher failure, then raised to $800,000 AFTER it went down.
Still, it does make me wonder what the initial $300K loan was for.
CB.."..started planning all of this in January and the Sedar document prove it"
DM was alredy in CMM's operating committee in the months of 2010. He came in as ceo at the begining of Jan 2011 so it is quite obvious the planning phase was in 2010, Jan 2011 onwards was the begining of the execution phase IMO
What I'm wondering is why CMM was allowing Mr Finisky to issue loans from White Tiger instead of asking that he honor his agreement to exercise warrants?
Jan 24 - Finisky gives CMM money through White Tiger
Feb 2 - Finisky sells off his warrants
Feb 4 - CMM conference call Daniel Major says everything is A-ok, on track etc.
This is all stuff BEFORE the crusher failure, but its the failure thats blamed for getting the loan in the first place.
Must have been a convenient distraction that they could pin their schemeings on.
This was a set up from the time Finisky came on the scene.....the manipulation all year long.....keeping the sp in check to his liking....since CMM had a negative history it was easy for Finisky to exploit it with no questions asked until the truth recently came out....once again a set- up from the time Finisky came on board...after all his pal Prohokorov did the same thing and now being charged with it in England......we are dealing with very unethical people here...man am I pissed off
This was a set up from the time Finisky came on the scene.....the manipulation all year long.....keeping the sp in check to his liking...
-------
The CMM sp was low all year because they never hit their targets. They kept revising them DOWNWARD all year so that by the end Lamaque only produced 14.4K instead of the original 65K.
Not sure CMM could help it, unless you think that the equipment delays and mining sub-par ore was also part of "the plan".
Of course now I wonder what is in those flats to make Finisky want CMM so bad?
Just a note on how uncredible the Crusher situation is in this whole senario. I run a multi million $ operation that MUST have operational contingincies in case anything goes done, because it will affect hundreds of thousands of workers in NA. All credible operations managers do an FMEA ( Failure Mode Effects and Analysis) study to determine the weakest links in their operations and to then put contingincies in place to minimize the effects of such issues. Mr. Major has not demonstrated to the shareholders that he had any such plan in place which means he is not a credible manager for an operation like this. Combine this with everything uncovered here thus far and the shareholders have a solid case.
To Payday, remember this quote: some of the zones the gold at Lamaque was *stacked up like pancakes, one on top of the other*, ---------------QUOTE:--------------
Wingfong, this reminds me of someone who was talking it up with Major at the PDAC conference and Major had mentioned that they were finding that in some of the zones the gold at Lamaque was *stacked up like pancakes, one on top of the other*, and there was a lot more gold there than they first thought!
Of course 2 days later out comes the chicken little NR of March 8.
Makes sense to me. I knew there had to be something good in Lamaque. Otherwise Finisky would have bailed a long time ago instead of trying to steal the whole pie for himself.
CMM should be trading at $1.20 not 49c. And it would be were it not for these Russian mafia mobsters running the show. CMM is trading like it is located in some tin pot dictatorship jurisdiction instead of Val Dor Quebec.
This whole situation is wrong! We know it is wrong! Now what are we going to do about it?
It was already mentioned, we need somebody to be our voice, we also need professional assistance to further investigate and prove both CMM and WTG are guilty of unprofessional conduct(s). I mean the evidence provided within this blog is overwhelming. We also need to get the word out to other shareholders so they too can formulise their judgment on this matter and hopefully vote NO too.
nt300, you're right about that. There needs to be a CMM leader and a steering committee.
I also think only 2/3 of eligible voters will vote. The members on the dissent list I think there will be a 95% response since these are people who are active enough to come here.
So that leaves: 66%x295 votes = 195M
77Mx95% = 74M/195M = 37%!
...only another 14% to have a great chance of getting this deal squashed.
In 1990 graduated The Moscow Financial Institute (economist, Finance & Credit);
In 2005 graduated The University of Ministry of Internal Affairs (lawyer, Jurisprudence), Saint-Petersburg;
1993 – 1995 - Chairman of the Board of Commercial Bank “Moscow Bank for Reconstruction & Development”;
1995 – 1998 - President of Commercial Bank “Regional Alliance Bank”;
1998 – 2001 - Deputy Chairman of the Board of Commercial Bank “International Company for Finance & Investments” (ICFI);
2001 – Sept 2008 - Deputy General Director of Joint Stock Company “Mining and Metallurgical Company “Norilsk Nickel” ;
Sept 2008 – present time - President of Mining and Metallurgical Company (MMC) “Intergeo”. www.polyusgold.com/eng/about/company/boardofdirectors/finsky/
"So for him to flat out LIE to shareholders and say CMM was first approached by White Tiger for a merge in March???!!! What is the son a bitch thinking?"
I am afraid that some people are going to think I am a shill for CMM, and if they do there is nothing I can do about that.
Yes, on the CC Major did say EARLY March. BUT! Listen to the call. At 43 minutes into the call, Major says he is not certain and emphasizes that he does not recall the exact actual date off the top of his head, then (it sounds like) he looks at some notes, and says beginning of March, and then says again he is not sure of the exact date.
PERSONALLY, I think he simply misspoke and meant to say February.
1. If it was in March he probably WOULD have been able to remember the exact date. A month earlier, not so much.
2. If it was a lie, you'd think he would have some pat answer prepared in advance and not hem and haw over what date it was.
3. Would you say beginning of or early March? Personally, in that situation, I would say at the start of THIS month. If the answer really was March, I mean. Otherwise, the phrasing is off. "Beginning of March" is something I would not say, if we are still in March. I would say "earlier this month".
4. Why would he lie and say March if he knows full well that the Sedar document will say otherwise? That makes no sense.
Summary: I think he meant to say beginning of February and simply misspoke. Given that the Sedar documents also indicate that it was in early / mid February, I think I am going to have to give him the benefit of the doubt on that one.
Daniel Major first entered into a bridge loan agreement JANUARY 24, 2011. And it also says there was a non-binding agreement regarding a White Tiger takeover as well.
I can see giving him the benefit of the doubt if he was off by a couple weeks...but 2 MONTHS off??!!
Not to mention here's CMM borrowing $ in January and Feb 4 a week later Daniel Major is in the CC giving rosy pictures of progress in Lamaque. No mention of bridge loans (the $300K) needed then.
A week after that a cone crusher just "happens to fail" and gee...what a convenient thing to blame needing an $800K loan for a $200K problem...
Major says he is not certain and emphasizes that he does not recall the exact actual date off the top of his head, then (it sounds like) he looks at some notes, and says beginning of March, and then says again he is not sure of the exact date.
_______________________________
Remember Prez. Clinton and how he could not recall what the definition of "is" is?
"Daniel Major first entered into a bridge loan agreement JANUARY 24, 2011. And it also says there was a non-binding agreement regarding a White Tiger takeover as well."
I will be the first to admit, I am not certain what all the legalese (sp?) means. The document says:
"The Lender and the Borrower have entered into a letter of intent dated January 24, 2011 and accepted by the Borrower on February 8, 2011, as restated and amended on February 17, 2011 and accepted by the Borrower on February 18, 2011 (the “LOI”) pursuant to which the Lender made a non-binding proposal to acquire all of the issued and outstanding securities of the Borrower ..."
It seems to me that the above is consistent with the first bridge loan of $300,000 happening in early February.
The LOI was prepared and dated in January by WTG (and possibly someone from CMM), but presented and "accepted" by the CMM Board / Management on February 8.
Then the issue of the takeover was raised later, on February 17 or 18 when the terms of the initial bridge loan were amended.
Anyway, that is my reading. I may be wrong about that, but in any case I think the "beginning of March" thing was a misspeak on DM's part.
What really pisses me off is Daniel Major should have fought hard for Century Mining Corp and its backers (shareholders) for a solid fair merger deal that would benefit its shareholders and all others involved in a fair manner. I mean, I am flabbergasted Daniel Major is hard at work to screw its shareholders. Wouldn’t it have made sense for both CMM & WTG to come out with a solid merger offer so they can ensure a YES vote at the end???
Daniel Major, why not prove to us that WTG is truly worth its current price of $3.00+, and explain why CMM is trading at $0.49 where in FACT it should have smashed through its 52-week high pre-merger announcement and rise above $1.00 post merger announcement. Oh, let me see, you can’t because it was planned this way. Are these people that stupid?
It seems Daniel Major is all in for himself, screw CMM and screw the shareholders so long as he makes a lot of money. It is really too bad we have clowns running Century Mining Corp. It also sucks that these Russian Millionaires/Billionaires will do anything to not pay a fair price for CMM. Well perhaps this is how they became rich. Blood sucking A-holes...
Payday.."I honestly can't believe this CMM BoD expects people to hand over their shares at 0.49 when they were at 0.79 all on their own two wks ago"
EXACTLY!! CMM's SP was moving up convincingly all on its own merits without the influence of takeover romours. When such a so call takeover/business combination was announced, the price sank n we are now at 0.49!
The market has spoken n it is so obvious that this deal is bad, very bad to CMM's SP. Unless a moron, no thinking investor in his/her right mind can say that this deal is good for CMM n CMM shareholders except for one--DM is he!
31 comments:
Link:
http://sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00002842
I have abstracted the followings among the many posted comments over the past few days. Suggest those who are unaware spend a bit of time to read them for they mean we are moving forward to the next level:-
1) Posting "Contact Business News Network" by JOAR dd March 21 2011
a) Fredericton said he had emailed BNN about our case...
2) Posting "Should we be launching a co-ordinated media campaign?" by doc dd March 18 2011
a) Ron S said he had contacted John Helmer who lives in Russia and has knowledge of
Russian players including Finsky....
b) Gonefishing said he had a long telephone conversation with Fair For All (the same Fair For All who had registered the block of 46.2 million dissenting votes(shares)) and Fair For All has had an initial correspondence with Prod05...
Recived this e-mail this morning from BNN:
Thank you for your e mail. We appreciate your comment and have passed it along to the appropriate people here at BNN for consideration. We will attempt to reply to you if you had a question, but please understand that due to the volume of mail we receive, it may not be possible to do so. Again, thanks for your interest in our programming.
For more information on BNN and its programs, please visit our website: www.bnn.ca.
Sincerely,
Jack Fleischmann
General Manager
BNN - Business News Network
This is the type of info we need exposed.
It says:
"The Lender and the Borrower have entered into a letter of intent dated January 24, 2011 and
accepted by the Borrower on February 8, 2011, as restated and amended on February 17, 2011 and
accepted by the Borrower on February 18, 2011 (the “LOI”) pursuant to which the Lender made a
non-binding proposal to acquire all of the issued and outstanding securities of the Borrower pursuant
take-over bid or plan of arrangement;"
This makes me furious on two counts:
First, it proves Century Mining was lying when they said that the $800M bridge loan was needed because of the cone crusher failure. Why would the be borrowing money 2 weeks before it happened?
Second, it proves this has been in the works for a very long time. Daniel Major knew about this:
- during the Feb 4 Conference call
- during PDAC conference
- during March 8 press release
So for him to flat out LIE to shareholders and say CMM was first approached by White Tiger for a merge in March???!!! What is the son a bitch thinking? We wouldn't find out or what?
This blows my mind!
CB, Nick n TraderJoey..I share the same indignation as U. This ceo is mean & truly had betrayed the trust of we shareholders (of course Fin is pleased with his contributions) I am sure all retail investors will come to know of his dirty game, this outrageous betrayal
CB, later on in the document (a paragraph or two down) it clarifies that it was a $300K bridge loan BEFORE the ore crusher failure, then raised to $800,000 AFTER it went down.
Still, it does make me wonder what the initial $300K loan was for.
CB.."..started planning all of this in January and the Sedar document prove it"
DM was alredy in CMM's operating committee in the months of 2010. He came in as ceo at the begining of Jan 2011 so it is quite obvious the planning phase was in 2010, Jan 2011 onwards was the begining of the execution phase IMO
Dave, thanks for the clarification.
What I'm wondering is why CMM was allowing Mr Finisky to issue loans from White Tiger instead of asking that he honor his agreement to exercise warrants?
Jan 24 - Finisky gives CMM money through White Tiger
Feb 2 - Finisky sells off his warrants
Feb 4 - CMM conference call Daniel Major says everything is A-ok, on track etc.
This is all stuff BEFORE the crusher failure, but its the failure thats blamed for getting the loan in the first place.
Must have been a convenient distraction that they could pin their schemeings on.
Someone pass the air freshener!
If I didn't know any better I'd wonder if the whole cone crusher problem was a deliberate act.
You took the words right out of my mouth lol, anything is possible.
indebt
This was a set up from the time Finisky came on the scene.....the manipulation all year long.....keeping the sp in check to his liking....since CMM had a negative history it was easy for Finisky to exploit it with no questions asked until the truth recently came out....once again a set- up from the time Finisky came on board...after all his pal Prohokorov did the same thing and now being charged with it in England......we are dealing with very unethical people here...man am I pissed off
This was a set up from the time Finisky came on the scene.....the manipulation all year long.....keeping the sp in check to his liking...
-------
The CMM sp was low all year because they never hit their targets. They kept revising them DOWNWARD all year so that by the end Lamaque only produced 14.4K instead of the original 65K.
Not sure CMM could help it, unless you think that the equipment delays and mining sub-par ore was also part of "the plan".
Of course now I wonder what is in those flats to make Finisky want CMM so bad?
Someone bring Peggy back!
She had her faults but I doubt she would have sold CMM down the river like this!
Just a note on how uncredible the Crusher situation is in this whole senario.
I run a multi million $ operation that MUST have operational contingincies in case anything goes done, because it will affect hundreds of thousands of workers in NA. All credible operations managers do an FMEA ( Failure Mode Effects and Analysis) study to determine the weakest links in their operations and to then put contingincies in place to minimize the effects of such issues.
Mr. Major has not demonstrated to the shareholders that he had any such plan in place which means he is not a credible manager for an operation like this.
Combine this with everything uncovered here thus far and the shareholders have a solid case.
To Payday,
remember this quote: some of the zones the gold at Lamaque was *stacked up like pancakes, one on top of the other*,
---------------QUOTE:--------------
Wingfong, this reminds me of someone who was talking it up with Major at the PDAC conference and Major had mentioned that they were finding that in some of the zones the gold at Lamaque was *stacked up like pancakes, one on top of the other*, and there was a lot more gold there than they first thought!
Of course 2 days later out comes the chicken little NR of March 8.
CB
March 22, 2011 12:17 AM
nt300,
Makes sense to me. I knew there had to be something good in Lamaque. Otherwise Finisky would have bailed a long time ago instead of trying to steal the whole pie for himself.
CMM should be trading at $1.20 not 49c. And it would be were it not for these Russian mafia mobsters running the show. CMM is trading like it is located in some tin pot dictatorship jurisdiction instead of Val Dor Quebec.
This whole situation is wrong!
We know it is wrong!
Now what are we going to do about it?
It was already mentioned, we need somebody to be our voice, we also need professional assistance to further investigate and prove both CMM and WTG are guilty of unprofessional conduct(s). I mean the evidence provided within this blog is overwhelming. We also need to get the word out to other shareholders so they too can formulise their judgment on this matter and hopefully vote NO too.
nt300, you're right about that. There needs to be a CMM leader and a steering committee.
I also think only 2/3 of eligible voters will vote. The members on the dissent list I think there will be a 95% response since these are people who are active enough to come here.
So that leaves: 66%x295 votes = 195M
77Mx95% = 74M/195M = 37%!
...only another 14% to have a great chance of getting this deal squashed.
Might as well know the guy
Born on March, 1966.
In 1990 graduated The Moscow Financial Institute (economist, Finance & Credit);
In 2005 graduated The University of Ministry of Internal Affairs (lawyer, Jurisprudence), Saint-Petersburg;
1993 – 1995 - Chairman of the Board of Commercial Bank “Moscow Bank for Reconstruction & Development”;
1995 – 1998 - President of Commercial Bank “Regional Alliance Bank”;
1998 – 2001 - Deputy Chairman of the Board of Commercial Bank “International Company for Finance & Investments” (ICFI);
2001 – Sept 2008 - Deputy General Director of Joint Stock Company “Mining and Metallurgical Company “Norilsk Nickel” ;
Sept 2008 – present time - President of Mining and Metallurgical Company (MMC) “Intergeo”.
www.polyusgold.com/eng/about/company/boardofdirectors/finsky/
Why isn't Polyus Gold just buying Century Mining with cash straight up?
What's Max Finiskiy doing trying to buy up CMM with his Fake Tiger Gold and then sell it back to Polyus for cheap later?
Sounds like a move right out of Prokorov's playbook. He's under too much heat in London so he sends Finisky to do his dirtywork for him.
"So for him to flat out LIE to shareholders and say CMM was first approached by White Tiger for a merge in March???!!! What is the son a bitch thinking?"
I am afraid that some people are going to think I am a shill for CMM, and if they do there is nothing I can do about that.
Yes, on the CC Major did say EARLY March. BUT! Listen to the call. At 43 minutes into the call, Major says he is not certain and emphasizes that he does not recall the exact actual date off the top of his head, then (it sounds like) he looks at some notes, and says beginning of March, and then says again he is not sure of the exact date.
PERSONALLY, I think he simply misspoke and meant to say February.
1. If it was in March he probably WOULD have been able to remember the exact date. A month earlier, not so much.
2. If it was a lie, you'd think he would have some pat answer prepared in advance and not hem and haw over what date it was.
3. Would you say beginning of or early March? Personally, in that situation, I would say at the start of THIS month. If the answer really was March, I mean. Otherwise, the phrasing is off. "Beginning of March" is something I would not say, if we are still in March. I would say "earlier this month".
4. Why would he lie and say March if he knows full well that the Sedar document will say otherwise? That makes no sense.
Summary: I think he meant to say beginning of February and simply misspoke. Given that the Sedar documents also indicate that it was in early / mid February, I think I am going to have to give him the benefit of the doubt on that one.
Anyway, carry on, GLTA.
Dave,
Daniel Major first entered into a bridge loan agreement JANUARY 24, 2011. And it also says there was a non-binding agreement regarding a White Tiger takeover as well.
I can see giving him the benefit of the doubt if he was off by a couple weeks...but 2 MONTHS off??!!
Not to mention here's CMM borrowing $ in January and Feb 4 a week later Daniel Major is in the CC giving rosy pictures of progress in Lamaque. No mention of bridge loans (the $300K) needed then.
A week after that a cone crusher just "happens to fail" and gee...what a convenient thing to blame needing an $800K loan for a $200K problem...
Major says he is not certain and emphasizes that he does not recall the exact actual date off the top of his head, then (it sounds like) he looks at some notes, and says beginning of March, and then says again he is not sure of the exact date.
_______________________________
Remember Prez. Clinton and how he could not recall what the definition of "is" is?
Thats what DM reminded me of.
"Daniel Major first entered into a bridge loan agreement JANUARY 24, 2011. And it also says there was a non-binding agreement regarding a White Tiger takeover as well."
I will be the first to admit, I am not certain what all the legalese (sp?) means. The document says:
"The Lender and the Borrower have entered into a letter of intent dated January 24, 2011 and
accepted by the Borrower on February 8, 2011, as restated and amended on February 17, 2011 and
accepted by the Borrower on February 18, 2011 (the “LOI”) pursuant to which the Lender made a
non-binding proposal to acquire all of the issued and outstanding securities of the Borrower ..."
It seems to me that the above is consistent with the first bridge loan of $300,000 happening in early February.
The LOI was prepared and dated in January by WTG (and possibly someone from CMM), but presented and "accepted" by the CMM Board / Management on February 8.
Then the issue of the takeover was raised later, on February 17 or 18 when the terms of the initial bridge loan were amended.
Anyway, that is my reading. I may be wrong about that, but in any case I think the "beginning of March" thing was a misspeak on DM's part.
What really pisses me off is Daniel Major should have fought hard for Century Mining Corp and its backers (shareholders) for a solid fair merger deal that would benefit its shareholders and all others involved in a fair manner. I mean, I am flabbergasted Daniel Major is hard at work to screw its shareholders. Wouldn’t it have made sense for both CMM & WTG to come out with a solid merger offer so they can ensure a YES vote at the end???
Daniel Major, why not prove to us that WTG is truly worth its current price of $3.00+, and explain why CMM is trading at $0.49 where in FACT it should have smashed through its 52-week high pre-merger announcement and rise above $1.00 post merger announcement.
Oh, let me see, you can’t because it was planned this way. Are these people that stupid?
Daniel Major, why not prove to us that WTG is truly worth its current price of $3.00+, and explain why CMM is trading at $0.49
-----------
Nick,
Good ol' Danny Major already covered his ass in the NR:
"The trading price of White Tiger's shares on the TSX may not be indicative of the intrinsic value of such shares."
No shit Sherlock!
I honestly can't believe this CMM BoD expects people to hand over their shares at .49 when they were at .79 all on their own two wks ago.
Anyone know if there will be another CC prior to the vote?
It seems Daniel Major is all in for himself, screw CMM and screw the shareholders so long as he makes a lot of money. It is really too bad we have clowns running Century Mining Corp. It also sucks that these Russian Millionaires/Billionaires will do anything to not pay a fair price for CMM. Well perhaps this is how they became rich. Blood sucking A-holes...
Payday.."I honestly can't believe this CMM BoD expects people to hand over their shares at 0.49 when they were at 0.79 all on their own two wks ago"
EXACTLY!! CMM's SP was moving up convincingly all on its own merits without the influence of takeover romours. When such a so call takeover/business combination was announced, the price sank n we are now at 0.49!
The market has spoken n it is so obvious that this deal is bad, very bad to CMM's SP. Unless a moron, no thinking investor in his/her right mind can say that this deal is good for CMM n CMM shareholders except for one--DM is he!
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