Message: Next few weeks will see significant events occurring for Core Gold - and new Corporate Presentation

Two posts on Core Gold's CEO.CA forum this week May 16 & May 17  - 




@CallmeDaddy - A call with the company elicited the following (some of which is surmised from the facts presented): 1. The subsidiary will return to “good standing” next week. 2. In order to reach that position, the liquidator wanted to see one further payment made, which is to be done next week. 3. No drilling has started at Copper Duke. The reason for this is that no environmental bond had been posted. Given that a liquidator’s role is to gather the assets for the creditors and not to risk them on other business ventures, that is not a surprise. 4. The $15m debt facility which was to close at the end of March could not close because the company could not give a valid security over its assets to satisfy the lender. It is to close next week. 5. There is approximately $3.5m in debt to be paid in Ecuador and some to be paid in Canada. This will be paid out of the debt facility. $4m will then be allocated to the back end of the processing plant. This is where the bottleneck is, apparently – I saw Otto indicated that they could not bring the ore out of the ground fast enough to be profitable, but the indication is the reverse – it cannot be processed any faster at present because of the limitations on the back end of the plant. 6. At the operational level, the business is profitable. 7. The current management have been buying the shares in PPs. 8. Options have just been granted to “an employee” (15th May). 9. The previous director with the large overhanging shareholding has not been selling recently. He needed to raise money for his current project in Ecuador. That does not mean that he will not be selling again – it is just my observation. That was the outcome of my DD and as a result I took a small position. Happy to hear from others with more to add (positive or negative – it’s all worthwhile hearing).


@orotoro - callmedaddy - all good - everything is a go as soon as elipe s.a. is cleared by government appointed administrator - next week - let the fireworks begin ! and otto was wrong about the fate of the company - time for him to admit it publically - in the meantime check out the recent updates in Q2 corporate presentation - https://www.coregoldinc.com/assets/docs/ppt/Core_Gold_Corporate_Presentation_Q2_2018.pdf



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