Updated 43-101 news and more news from Finskiy
posted on
May 12, 2011 01:30AM
Hi.
Uall posted this on the igloo, and I thought it should be here as well since it has quite a few more details than some of the other news articles recently released:
From Uall:
https://research.tdwaterhouse.ca/research/public/Markets/NewsArticle/1314-N11224233-1
This article states:
"A group of Century shareholders have publicly opposed the merger, announced in March, and the Toronto Stock Exchange has requested an updated official resource estimate for the Lamaque project before it will approve the deal.
Finskiy said that document should be filed by the end of this month, and that a shareholder vote on the deal is expected this summer."
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Peachy's additions:
Great find Uall! What is also of interest in this article is this little tidbit:
""There is the possibility to increase production at Lamaque, but Century needs additional capital," he said. "We are talking about another $50 million."
That $50 million is on top of the cash the company needs to get the mine, which last produced gold in 2007, back online. White Tiger has already filtered about $30 million into Century, said Finskiy, who personally holds a 34 percent stake in the U.S.-based company."
When did this happen and what was it for? I only knew about the ~$4 million in bridge loans - where did the other $26 million come from? How far are our illustrious CMM management getting us into debt with WTG, and why was nothing announced?
Hopefully it is a typo, and they really meant to write $3 million, but that seems like a long shot. I would send a message to CMM to confirm, but so far there have been no answers from other emails I have sent them requesting information.
I am getting sick and tired of being treated like a mushroom!!!
Peachy