Member Info for BushyTailed

The aggregated paries represent Cassidy gold who the company acquired Kor from.

Vote will go which ever way they vote.

I think the question was directed to shareholders rather than internet fantasists. Perhaps you have a pithy and useless example from Karl Marx whilst we're at it too?

*here

Ditto dusty, not worth doing anything else but voting NO with what I have left hear.

wonder if dan has gone to chair to avoid an arrest warrant and yani has been doing **** to avoid a windfall tax grab by the junta before they run out of russian support???

Arrest warrant out for Barrick CEO

Arrest warrant out for Barrick CEO

Yes the debt is split between two different related parties.

Coris 90m is secured

70m CiG unsecured

I'd rather walk away with nothing, knowing that that get nothing. Rather than walking away with a penny whilst they get everything.

Being fearless of zero pence is a powerful place to vote from in this environment. If the independents are brave enough they can force Coris into choice between the open market or administration.

Administration will see a complete BKD wipeout... You'll get rid of Dan, Tom and all the hanger onners as well as the newly appointed CIG CEO.

They'll evaluate the and conduct their own due diligence on the business independent of any of these current muppets.

Voting NO means that the BOD get naff all out of it and lose their generous salaries with immediate effect, as well as treating all shareholders equally... Remember that the secured debt is only 90m Call their bluff and make them keep their word about converting the debt to gold loan notes.

"Shareholders are strongly advised not to take any action until after the Offer has been made.

· Should the Resolutions required for the Debt-to-Equity Conversion to proceed not be passed at the General Meeting, then the Debt-to-Equity Conversion will not proceed. In such circumstances, the Company will not be able to repay the New CIG Loan on its current terms and, if CIG calls a default on the New CIG Loan, it is highly likely that, in the absence of an alternative financing solution being found, the Board will need to put the Company into administration or an alternative insolvency process, as appropriate. Given the level of debt the Company has outstanding, in such a scenario, Shareholders are unlikely to receive any meaningful return on their equity investment."

TLTR??

Value of debt 170m

Cash and gold on had £10m

So Coris value the company at roughly 160m. Over the current issuance that's 20p a share which is fair enough, the company isn't profitable and that's the value of the debt. Debt free and they think it's worth only 22.6p per share, value of the debt plus the offer. Or they think it's a complete dud and are going to fire sale it to government backed agencies.

If you think it's a complete dud why offer a get out price for independent investors, why be charitable??? If something is going to the wall then why throw more money away helping out strangers?

2.6p won't be my favourite outcome but it will be the funniest after watching gold investor 5h1t himself and bank a 70k loss inside a week and then only to end up up watching his initial profit target pass him by on top of it.

🤣🤣

Goldshore Resources Bret Richards is now an ED and the CEO of Pasofino

No the debt and equity swap is conditional on independent shareholder agreement.

Incorrect

"They have the rights to buy 800M at 2.6p, so technically they can wait until the historical 12month highest bid expires, then exercise their rights and offer 2.6p for the remainder of the shares under rule 9."

Juxta... Cassidy have maintained some of their own staff at Kouroussa, so presumably they know what is going on with much more certainty than what we might.

"IF the waiver is blocked, can Coris then drag their heels and keep tightening the screws, picking up the rest of the shares in dribs and drabs AFTER 10/01/25, during 2025, at next to nothing?"

After 10th Jan, they're free to bu at market prices and because they already own more than the threshold required to make a formal offer in M&A rules they'd either have to make a formal offer or get shareholder to agree to another rule 9 waiver.

Coris do not hold all of the cards that some people here think they do.

Coris would lose their freshly appointed CEO, Thomas Hill would be given the immediate boot and most probably Dan too. An obvious win for individual shareholders who'd prefer not to be diluted into oblivion.