Friday, April 1, 2011

WTG Audited Financial Statements and MD&A

http://sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00025178

19 comments:

yikes1 said...

Not sure how to make the link work on the Post, so here it is:

http://sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00025178

blizzy said...

MD&A Part G assets including properties and cash.
64,715,000 dollars at end of 2010.

dave peters said...

Took me a while to find what blizzy mentioned; it is in Part (g) in Section 6, pages 8 and 12, for anyone else interested.

NSX001 said...

This is a very interesting statement taken from WTG’s “Annual Information Form-English PDF file on SEDAR

"Significant Shareholder;"

As at the date hereof, Mr. Maxim Finskiy, through various holding companies, which he owns and controls, directly or indirectly, owns and controls owns approximately 74% of the WTG Shares.
In addition, all of White Tiger Gold’s directors are nominees of Mr. Finskiy.

As a result, Mr. Finskiy has significant control over White Tiger Gold, giving it the ability, among other things, to elect a majority of White Tiger Gold’s board of directors, approve significant corporate transactions and delay or prevent a change of control of White Tiger Gold that could be otherwise beneficial to minority shareholders.

"Mr. Finskiy generally will have the ability to control the outcome of any matter submitted for the vote or consent of White Tiger Gold’s shareholders other than matters, if any, which require the approval of White Tiger Gold’s minority shareholders".

"In some cases, the interests of Mr. Finskiy may not be the same as those of White Tiger Gold’s other shareholders, and conflicts of interest may arise from time to time that may be resolved in a manner detrimental to White Tiger Gold or its minority shareholders".

This is what awaits us if this deal does go through.

nt300 said...

Wow, are people still serious about voting for this merger? Especially after all this compelling evidence that spells No Thank U.
My friends and foe, if we are not careful we will lose our company from under our noses.

Question for Dave Peters: Has NSX001 post changed your view on this merger? Are you still for it, or against it? Just curious...

bigrattler said...

nsx001, it certainly doesn't sound good, hence the move to the British Virgin Islands

Finsky wants to be the overlord of all

there is a reason they moved to BVI and I am sure it isn't a good one,for minority shareholders, although I have my suspicions on what that reason could be

Uall said...

Renewed selling today following WTG's FS release. Did some idiot CMM shareholder really believe that WTG was worth more than $1 and is now selling with the "new" realization that WTG is a POS?

Sent Yuri said...

Inquiry:

Someone bought WTG today at $3.35. In fact, 7,600 shares of WTG were sold today between 3.27 and 3.35. Who and why is anyone buying this stock?

If anyone has any insight, please share.

Thanks,

A worried investor

NSX001 said...

I'm just curious as to why the number of "Not Interested in any WTG Shares" vote count keeps increasing, but the number of shareholders and shares count on the "Table of Dissenting Shareholders List" barely moves upward?

Could it be that the "No WTG Share vote can be manipulated ie. voting more than once, but the Dissenting shareholders list is somewhat more difficult to manipulate?

Or is it that people are still not convinced how bad this deal really is?

nt300 said...

Sent Yuri, you should register here. As to your post, it sounds like somebody’s minions are at work buying and selling as to make WTG’s dead shares look alive...

Ron S. said...

NSX001
refer to a post by Carib "Blog Membership" on March 29

Ron S. said...
This comment has been removed by the author.
Sent yuri said...

Nt300, I haven't registered bc I don't often post but I do read.

I'm curious, worst case scenario, let's say the merger goes through. Is it possible the market recognizes the former WTG as being worth, let's say 50 cents, and values the cmmm part, now with money behind it and fewer shares outstanding, at 2 bucks, for a total of $2.50- which makes our .4 worth about a buck?

I'd much rather cash- I'd rather a bird in the hand- but since I keep getting the short stick with this company, I'm looking for some positives.

Thanks

dave peters said...

Send Yuri and others:

This was mentioned before, but please keep in mind that WTG actively trades on networks OTHER THAN THE TSX!!!

And much of this trading is invisible to retail investors.

I'm certainly not saying that WTG trades millions of shares, but it may be much more liquid than it appears if you only look at the TSX volume figures.

NSX001 said...

Dave Peters! You keep referring to the following statement on this and other boards.

"WTG actively trades on networks OTHER THAN THE TSX!!!

"And much of this trading is invisible to retail investors."

Can you please explain and provide some back up to you comment, which other platforms is WTG listed on, and please provide some proof of other trades, if as you say,

"I'm certainly not saying that WTG trades millions of shares, but it may be much more liquid than it appears if you only look at the TSX volume figures."

Which other platforms can it possibly trade on that can make it invisible to retail investors.

Anything that you could provide to confirm this would be a help.

dave peters said...

NSX0001:

With all due respect, judging from your posts, you appear to be suspicious of honest facts and a little too trusting of conspiracy theories. Perhaps I am mistaken about that, I hope that I am.

Anyway, quick proof of my first comment that WTG trades on other networks. Just go here:

http://www.alphatradingsystems.ca/

Search for WTG and look at the daily summaries. That proves that WTG does trade on at least one other network in Canada. Yes it is not too terribly active on Alpha, but some days it does trade more there than it does on the TSX. (BTW, there were several days in March when millions of shares of CMM traded on Alpha.)

Now, I've read that there are several alternative trading systems operating in Canada. You can do a Google search yourself for "alternative trading systems Canada" and come up with some of their names. Unfortunately, as you'll see if you do a bit of reading, many of those cater to institutional clients and us retail investors cannot easily (if at all) see what trades on them.

Consider OMEGA ATS for example:

http://www.omegaats.com/

I don't see how you or I can readily determine what trades there on any given day, or in what volume.

This article may be outdated in some respects, but you still might find it interesting:

http://network.nationalpost.com/NP/blogs/fpcomment/archive/2009/01/12/pegged-orders-an-unfair-trade.aspx

BTW, if I do not see / respond to any reply of yours here, feel free to PM me (balducci) at Agoracom.

NSX001 said...

dave peters!

I appreciate you taking the time to respond to my queries, please accept my apologies if It looked like I was coming off a little bit irritated, but you must understand that there have been numerous individuals here and elsewhere posting under multiple aliases in order to confuse the issues and distract meaningful discussions, thus any one posting information without backup is going to get grilled.

In response to your comments that Alpha & Omega (no pun intended) , are considered other trading platforms, it really makes no difference at all how many shares they trade and at what price, the only platform that determines the share price of WTG is the TMX, and none other, there could be millions of shares changing hands on other sites, but if they are not registered on the TMX, it means absolutely nothing.

Please consider that WTG has only 4 million shares outstanding for trading (likely mostly owned by friends and associates), that alone makes price manipulation very probable.

CMM's retail shareholders have so far accumulated close to 80 million shares, to either dissent (making the takeover very costly) or to vote no, with the prospect of this costly takeover failing, why haven't the 4 million WTG minority retail shareholders run for the exit and thus reducing the share price? why does the price continue to hold at the same level with virtually no trades?

Through share and warrant relocation by Finskiy and Scola to friendly hands, Finskiy and friends may already have the votes in the bag, but the number of dissent shares will make this very costly for him, or he may just walk away due to the more than 5% dissenting holders.

Wingfong said...

Hi NSX001
I share your assessment. Assume Fin & Co has already locked up the necessary share quantum for the Yes vote, one of our effective counter acts forward will be tro the dissenting path. As the threshold is 5%(20.4million shares), it seems to me that it is quite easy to gather this number n for the matter even up to 10%(40.8million shares) from the +79million dissenting shares tally we have. One question I have is what will be the value we can expect the court will come up with?Is there any valuation formula we can relay on? If this cash payout can be resonably assessed now n if it is reasonable, I believe more will be willing to take this dissenting path.

Wingfong said...

If I use the valuation methods frequently seen being used by commentator n letter writers in their valuation of gold producers i arrive at a valuation ranging from $1.50 to $3.00. Frankly I am not so sure what the court will be using.