Welcome to the Century Mining Blog.
This blog is open for viewing to the general public, but posting is restricted to Blog Members. If you wish to become a Blog Member send an email request to centurycarib@gmail.com.
Comments by the viewing public has been reinstated.
Check out the Information Links down the right-hand side.
I think you are right here and that opens the door to them making the offer as soon as tomorrow night after market. However, I would think that they will have it out at least by Friday ahead of the PDAC conference. Otherwise, it will be a tough weekend for those guys talking about what if scenarios. I am sure they would rather talk about actual events. So tomorrow should be an interesting day if it is the last day that shares can be bought for voting and also potentially the last day before an offer could be made. Maybe we get early fireworks tomorrow!
Looks like this was verified by another Agoracom poster Hoov. (The same gentleman who pointed out the key 35 day offer approval window that helped bust this thing wide open)
I don't think voting or non voting rights will make any difference to the hoard of speculators that are bound to jump on board once the news is announced.
But for us longs who have been here a while it's quite an interesting date. Tomorrow looks to be the last day to be a fully "legit" shareholder of CMM.
I am not exactly sure what this does to the potential takeover situation, if anything.
However, the core issue still remains intact, in my view. There is a complete disconnect between WTG`s market and its asset profile, in my opinion.
I see $516 million type market cap companies as being companies like these:
1) $467 million market cap - St Andrew Goldfields (85,000 - 95,000 oz production guidance for 2011 and millions of ounces in the ground as 43-101 resource)
2) $346 million market cap - La Mancha Resources (135,000 oz production guidance for 2011 and a couple of million total 43-101 ounces in the ground - though heavily weighted towards future mine, I think)
3) $653 million market cap - Avion Gold (100,000 oz production guidance for 2011 and 200,000 oz production in 2012, with millions of ounces in 43-101 resources in the ground)
In my opinion, WTG`s market cap should be only a very small percentage of the market maps of these companies (only random examples), based on even just basic asset profiles alone (never mind the substantial Russian discount often gets embedded into share prices for companies trading on Canadian markets - based on personal experiences).
I find it truly interesting that WTG is HQ'd in Tortola. Guess Antigua isn't such a hot spot after all these days (thanks, Alan).
My thoughts range between WTG wanting a legit asset/getting rid of the CMM baggage-as others have pointed out before me- and whether this smacks of the entire Apex Minerals dismemberment - largely accomplished by the same fellows we have at CMO the other hand, new and credible CEO and mine manager - and all we really need to do is get rid of Adrian, change the name, and get on with pulling gold out of the ground.
I think this will be one of my more profitable moments of confusion....
7 comments:
Prod.05, Whatdoes this do to the credibility of White Tiger and its potential effort to take over CMM?
Very interesting. Perhaps WTG is setting up for a stock / cash combo offer.
Fantastic day today. We broke through a key level (.67) cleanly and now have no technical resistance to our 52 week high of .87.
If I am not mistaken, I believe that tomorrow (March 3rd) is the last day that shares eligible for voting for the special meeting can be obtained.
Voting is only for shareholders on record as of 3/8. If we subtract 3 business days for settlement that brings us to tomorrow 3/3.
Securities law is not my strength so feel free to chime in if I am mistaken.
Cheers,
RE
RE,
I think you are right here and that opens the door to them making the offer as soon as tomorrow night after market. However, I would think that they will have it out at least by Friday ahead of the PDAC conference. Otherwise, it will be a tough weekend for those guys talking about what if scenarios. I am sure they would rather talk about actual events. So tomorrow should be an interesting day if it is the last day that shares can be bought for voting and also potentially the last day before an offer could be made. Maybe we get early fireworks tomorrow!
Looks like this was verified by another Agoracom poster Hoov. (The same gentleman who pointed out the key 35 day offer approval window that helped bust this thing wide open)
I don't think voting or non voting rights will make any difference to the hoard of speculators that are bound to jump on board once the news is announced.
But for us longs who have been here a while it's quite an interesting date. Tomorrow looks to be the last day to be a fully "legit" shareholder of CMM.
Cheers!
RE
Hi JOAR,
I am not exactly sure what this does to the potential takeover situation, if anything.
However, the core issue still remains intact, in my view. There is a complete disconnect between WTG`s market and its asset profile, in my opinion.
I see $516 million type market cap companies as being companies like these:
1) $467 million market cap - St Andrew Goldfields (85,000 - 95,000 oz production guidance for 2011 and millions of ounces in the ground as 43-101 resource)
2) $346 million market cap - La Mancha Resources (135,000 oz production guidance for 2011 and a couple of million total 43-101 ounces in the ground - though heavily weighted towards future mine, I think)
3) $653 million market cap - Avion Gold (100,000 oz production guidance for 2011 and 200,000 oz production in 2012, with millions of ounces in 43-101 resources in the ground)
In my opinion, WTG`s market cap should be only a very small percentage of the market maps of these companies (only random examples), based on even just basic asset profiles alone (never mind the substantial Russian discount often gets embedded into share prices for companies trading on Canadian markets - based on personal experiences).
I find it truly interesting that WTG is HQ'd in Tortola. Guess Antigua isn't such a hot spot after all these days (thanks, Alan).
My thoughts range between WTG wanting a legit asset/getting rid of the CMM baggage-as others have pointed out before me- and whether this smacks of the entire Apex Minerals dismemberment - largely accomplished by the same fellows we have at CMO the other hand, new and credible CEO and mine manager - and all we really need to do is get rid of Adrian, change the name, and get on with pulling gold out of the ground.
I think this will be one of my more profitable moments of confusion....
Post a Comment