In my opinion, if the company is taken over, and I don't doubt that it will, because "The
Saviour" has manipulated the share price to date in order to buy up a-la-cheap,
transferred shares and warrants to friendly hands and created a false sense of
distress for CMM in order to make this takeover palpable.
I see two scenarios unfolding here:
Scenario 1) In the event that he wins the day, there will be a significant number of
shares dissenting (my take is 50 million shares out of 80 million), a judgement value
for CMM may be set based on an asset value only ie. actual proved gold resources in
As taken from goldminorpulse.com
Projected fair market valuation as a gold producer: US$341.36 per ounce of Au Eq.
Century Mining Corporation in situ metal value is 100% from gold. Therefore Century Mining Corporation should be valued on the Gold Producer Valuation Line or even at a small premium. Projected fair market stock price for Century Mining Corporation is derived using the projected fair market valuation at start of production of US$341.36 per ounce of Au Eq.
I will use only the proven, probable, measured & indicated gold reserves (leaving out the inferred estimates as an asset at Lamaque and San Juan) + mines and mills value,
Taken from CMM's website
Lamaque: Proven, Probable, measured & indicated = 2,420,876 ounces
San Juan: Proven, Probable, measured & indicated = 202,791 ounces
Total gold: Lamaque + San Juan is 2,623,667 ounces, based on the above value of US$341.36 per ounce.
2,623,667 oz x $341.36 = $895,614,967
Lamaque Mine+Mill is "Original cost of mine+expenses to return mill to operational status minus depreciation" = Approx. $75 million
San Juan Mine+Mill is "Original cost of mine+mill minus depreciation" = Approx. $10 million
Total value of CMM including only Lamaque assets+San Juan assets
and not including all other potential properties in Peru, Quebec, Alaska
& north west territories.
$895,614,967 + $75,000,000 + $10,000,000 = Approx.
$980,000,000./, approx. 427,000,000/outstanding shares = $2.29/sh.
Note: the remaining un-exercised warrants will not be exercised by Finskiy et-al until after the merger, in order to keep them away from the eyes of the OSC/BCSC, so they will not be included in this calculation.
If 50 million shares out of 80 million at present, dissent, the cost to to the saviors from Russia would be approx. 50,000,000/sh. x $2.29 = $114,500,000 at a minimum.
Now maybe you can see why we do not have to vote NYET to this deal in order to win, we just have to abstain from voting and dissent in order to kill this the deal, if they decide to continue anyway it, will cost them big time, so the dissenters will win really big and the yes camp will be stuck with WTG shares which will drop like a rock after the merger.
Scenario 2) The whole merger will be aborted, end of subject.
I know my numbers are all hypothetical, only a few are based on true data from true sites, but as you can see this whole sordid mess, and it is a dogs breakfast, will be an another expensive endeavor for Mr. Finskiy and associates.
So Ladies & Gentlemen please choose your poison and may the winners have the last laugh.