CMM 3.21% $5.13 capricorn metals ltd

Ann: Shareholder Request for Meeting, page-57

  1. 3,763 Posts.
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    G'Day,
              Was researching CMM because of it being on my Gold Developers watchlist and the recent pog. Looking at their anns, was surprised to see the RRL offer and, following up on HC, came upon this thread. 
    Certainly in agreement with a lot said about the extraordinary meeting which has been called. But as for Hawke's Point reasons for rejecting the RRL offer, I googled them in relation to CMM.

    1) CMM ann 6/2/2016: HP to buy almost 141.6 m shares at 11.7c/share and 1:3 opts for 4 years at strike of 15c. So, not only would HP be selling at a capital loss if they approved (sure, RRL rose after, but at the time) and their options would have been worthless unless RRL made a deal with HP about the unlisted opts.

    2) HP is a fully owned subsidiary of  TFG Asset Management, looking after $25.9b investments, itself set up by Tetragon (listed on EuroNext & LSE). Doesn't sound like an opportunistic company looking to own a small gold mine. And certainly likely to vote against the people asking for the extraordinary meeting. Would seem to be on another level altogether. 

    CMM not held, still looking at small goldies. Hold BDR, BGL, DCN, GOR, PTR, all except the last developers of Au mines.

    Hope that this helps holders. May even join you over the next few weeks, at least as a stt.

    Cheers, pmd3nka
 
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