Welcome To The Integra Gold HUB On AGORACOM

Integra Gold is a Canadian company focused on production planning for its high-grade Lamaque South project in one of Canada's premier gold producing districts, the "Valley of Gold," Val-d'Or, Québec

Message: ELD proposed takeover of ICG

hello all,

ICG has sent out the info circular packages to shareholders, but according the folks on the otherside (SH) they are still in the mail and not yet in the hands of shareholders. Consequently, shareholders cannot vote since they don't have the control numbers.

A few key items are summarized below for info. A lot more detailed discussion can be found in SH, where I spend most of my time lately.

1. This is a low-ball offer from ELD, the claim (by ICG) was that it was valued at C$590M which is no-longer true, since ELD share price has crashed from $5/s to below $4/s (some 25% reduction). Management and the BoD support the deal, but mainly because of the golden parachutes.

2. The offer does not take into account the full value of the deposit (~7.5Moz plus counting Sigma, Lamaque, West Plug, the DEEP and GRC target potential), the mill and the infrastruction both above and below the surface (the mill, waste facilcities and permits is worth $100M, the ramp alone is worth ~$30M, etc...). Management appears not to take care of its own shareholders.

3. The voting scheme seems a bit strange. Apparently, if you don't vote, management will vote YES for the deal for you.

4. If you have not received the voting package, call your broker. They can do the following:

- they can vote for you. Tell them to vote NO

- they can give you the control number (for TD Direct Investing, it's a 16 digit number) and you can vote  by computer (proxyvote.com). If the package is from Computershare, voting is similar but I believe its would have a 15 digit number.

- You can vote by phone.


1. Deadline for voting: 29 June 2017 (but don't wait until the last minute, since things can go wrong)

2. Meeting date: 4 July 2017

3. The info in this package (with the exception of the control number) is avaliable on-line.

Vote NO to send management a loud and clear message. Every vote counts in this business, especially when management intend to vote YES for you, if you don't do anything.


New Message
Please login to post a reply