The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Brisbane going into a 3 day lock down to stop the mutant UK version of C19 spreading there as it escaped from the hotel quarantine system. Probably means no RNS's coming out of Solgold towers while they are in lockdown.
New article just out.
http://www.goldtelegraph.com/cornerstone-capital-resources-closes-financing-well-positioned-for-elevated-commodity-prices/
Pinot,
Will be interesting to see how they respond. It may give an indication of how close they expect things to be. I expect them to not be concerned because it wont make any difference at the end of the day which backs up my original decision not to pay to vote.
This may be useful for others as it is possible to attend the AGM as a guest as advised by cmi2i. (The pictures in the email do not copy)
Thank you for your email.
SolGold encourages all shareholders to register and vote at the upcoming AGM and would appreciate your support.
Unfortunately, each financial intermediary has its processes and requirements which the company cannot control.
You can still watch the AGM as a guest if you follow the steps below. Note the access to the Meeting will be available from 10:00 a.m. (UK time) on 17 December 2020.
Step 1
Navigate to https://web.lumiagm.com and you will be prompted to enter the Meeting ID which is 104-658-825;
Step 2
After entering the Meeting ID, please choose the “I am a guest” option;
Step 3
Inform your First Name, Last Name and Email in the respective fields. Click Enter;
Step 4
When successfully authenticated, you will be taken to the Home Screen. The meeting presentation will appear automatically if viewing through a web browser to the side of the page.
This can be minimised by pressing the button.
Please let us know if you have further queries.
Pinot,
I started out by emailing Karl. He told me to contact my Broker / CMi2i. I sent a note to Karl just now advising that my shares would be sitting on the sidelines as I can't really justify paying to vote. Some may think I am talking BS but if you all had to pay 100+ Euro to vote I bet you would do exactly what I am doing as well. I would be very very surprised if it comes down to my 4.9 million shares which in the grand scheme of things is a relatively small holding.
Contacted my broker in Singapore that holds my Solgold shareholding. Turns out it costs 30 Euro to register for their voting service and then 5 Euro per vote / change of vote. So 110 Euro all up for the 16 resolutions. Enquired about attending the online AGM and voting that way, was told they don't provide SRN details, they later came back to me and told me they could get me a letter to attend via a letter of representation from their custodian but the fee for that was 750 quid.
I would like to support the board but decided it is all getting too hard and it is not worth paying the cash when in all likelihood my 4.9 million shares probably makes no difference to the final outcome. A bit annoying as some of my mates who are with other brokers can vote their shares for free which is the way it should be.
Increased raise now.
20-31 - Cornerstone Announces Increased Financing to up to $7.7 Million
Not for distribution to United States newswire services or for dissemination in the United States
Ottawa, ON, Canada: Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) announces an increase to its previously announced non-brokered private placement. The Company now intends to issue in the private placement up to 1.54 million common shares at an issue price of $5.00 per common share for total gross proceeds of up to $7.7 million (the “Offering”). This is an increase from the previously announced financing of up to $6.9 million.
The Company intends to use the proceeds of the Offering for working capital and general corporate purposes. Certain insiders of the Company may participate in the Offering. The issuance of common shares to insiders of the Company pursuant to the Offering will be considered related party transactions within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company intends to rely on the exemptions from the formal valuation and minority securityholder approval requirements of MI 61-101 made available under sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of such insider participation, as neither the fair market value of the common shares being issued to insiders nor the consideration being paid by insiders will exceed 25% of the Company’s market capitalization, as determined in accordance with MI 61-101.
Completion of the Offering is subject to applicable regulatory approvals, including approval of the TSX Venture Exchange. The Offering is expected to close in December 2020.
The Company has engaged Canaccord Genuity Corp. to act as its financial advisor for the Offering. Finder's fees may be payable by Cornerstone in connection with the Offering.
The shares issued pursuant to the Offering will be subject to a four-month hold period under applicable securities laws in Canada.
Cornerstone stock up over 15%, something brewing there. Probably Newcrest lining up a bid for them with an all stock deal now they have their listing in Canada. Interesting times. What will the BHP response be?
Solgold just put on their linked-in account that they have engaged Scout advisory on strategic communications and investor targeting. Looks like there will be a PR blitz to go along with the drilling shock and awe military style campaign. This could in theory get the stock pumping by attracting new investors to invest.
Long and strong Solgold. I topped up some more shares yesterday.
Quady just a few comments on the workings but I would imagine the need to adjust for the 7% of the shares that Cornerstone own these would become Solgolds if the bid were to be accepted. I am assuming that these shares would be cancelled impacting the denominator of the total shares on issue. In addition Solgold already own 5% odd of Cornerstone so would not have to issue additional Solgold shares to acquire these. In any event these adjustments are not that significant in the grand scheme of things.
I think the bid will get rejected due to the very big egos at play and past history. You just have to look at Warren Irwins twitter feed (He obviously wants Mather gone and has no plans on selling to him) and the comments from Bob Sangha which makes at the present time this bid dead on arrival. They may however change their minds should the Solgold stock price rise due to corporate activity or due to exploration success in some of the 100% owned Solgold properties.