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GOLDEN HOPE MINES (TSXV:GNH) Confirms High Grade Intersection of 64.1 g/t Au (Gold) over 1m Read More

The screen metallic analysis returned 82 g/t Au for an average grade of 93.5 g/t Au.
Two additional fire assays on the original pulp done prior to the screen metallic analyses returned 0.22 g/t Au and 0.12 g/t Au for an average fire assay grade of 0.41 g/t Au. The weighted average of all the fire assays and screen metallic assays from this 1-metre section in hole BD2011-184 is 64.1 g/t Au.

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CONTINENTAL ENERGY Geothermal Energy Project Receives US$ 11.5 Million Grant Read More * Client

AGORACOM Launches Graphite Stocks Blog

Message: Why the Merge

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red911

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Re: Why the Merge

in response to Why the Merge by fizzbang

posted on Sep 15, 09 03:57PM

Why did Cons. Puma want to merge with SAge??? Common sense says they had to be shown or Told something of significant value for 3 million $$$. This is the hope im clinging to.

Not necessarily. Consider the final numbers re: Puma transaction in the latest MD&A:

"Accordingly, a total of 62,317,876 treasury shares of Sage were issued to Puma
shareholders. Subsequent to related closing costs, Puma adds approximately $2.8 million net cash toSage’s bank account."

$2.8 million for 62.3 million shares works out to 4.5 cents per share. Puma shareholders (including Kinross) who basically held shares in a company that had nothing but cash (i.e. properties were all written off) exchanged their shares for shares of SGX at a price of 4.5 cents a piece... this at a time when SGX was trading at 6-7 cents. Puma shareholders got SGX shares at a discount not the other way around. Basically the same effect as a flow-through financing... likely not a coincidence. But hey... they had to raise money from somewhere and this was a creative way to do it.

red911

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