Marlowe Share Discussion Threads

[richgit] 22/11/2005 16:54

Victor.
It was Bolivar shareholders that refused to have anything to do with MO and that is why they were glad to get GF involved.

However,water under the bridge and for myself I hope this stock now has the
expected treatment of a Cash Shell,unless they fob MO onto someone else,but
we certainly do not want to finance it.

Fingers crossed.

[made1686] 22/11/2005 14:37

no thay can not they are investers that take a 51% share holding just to get at the cash and sargold shares which has got to be 13p per share going up in can as people think thay will start working for mrl geting this company on the map is wherethe real money is evil tom are working on geting the clowns kicked out

[victorfromportugal] 22/11/2005 13:44

bluesky, yes... but will they as they are going to pocket MILLIONS!!!

they could buy out MRL for close to nothing...if they are really b@stards!

[blueskye2] 22/11/2005 12:10

Now, the BGC management will have time to devote to MRL. So watch this space.

[victorfromportugal] 22/11/2005 11:53

I also can understand why Bolivar pulled out of MO after GF. It seems that the management did not want to have MO controlled by others... why? this remains a mystery...

[victorfromportugal] 21/11/2005 17:16

Also, the write off of Pasterena will be for 4,979,873 $ which seems a lot, and it is. But this has to be mitigated by the following

979.835$ was paid cash LOST
1.773.000 was income tax due (repaid) LOST
23.000$ cost of transaction LOST
2.000.000 $ of issued shares (4.000.000 shares at 0.55 at the time) not entirely lost, thank gold, they now have 4% of the company and they shares are worth 220.000$ instead of 2.2M

so... when the figures of Q3 will be published, one needs to think that the 5M$ are actually "only" 2.6M$ lost in this DISASTROUS ITALIAN venture...

the rest are shares, which means a dilution in favour of the vendors who keep their shares...

good evening2

[victorfromportugal] 21/11/2005 17:07

SARGOLD

after checking the report of 31dec2004, it appears that Medoro will get from Sargold 1 million $ (CAD) of shares at market value (as of 30 aug 2009), therefore the market price of these shares may be going up or down in the mean time with no consequence for Medoro, unless sargold goes under...

this answers my question from earlier...


Sargold can also get repurchase the 2% smelter royalty for 1M$ for each percent. that is a maximum of 2M$

have a nice evening all.

[victorfromportugal] 21/11/2005 16:41

Volumes picking up in toronto, not much left for sale below 0.12

we will have to look forward into 2006 for, maybe, some news and development for MRL or a possible Management Buy Out with their millions from Bolivar...

in that case 0.12£/share could be a minimum versus 0.0325£ now...

[victorfromportugal] 21/11/2005 16:06

OKAY, we'll have to wait for the Q3 results and comments.

[alexx] 21/11/2005 15:45

marginal at best, in fact MRL volume today is only 25000
it is only the cash that is stopping these decend to zero

[victorfromportugal] 21/11/2005 15:25

true, but look at the volumes early Nov and august, surely some new that GF would buy Bolivar, hence attraction to MRL... early stages but... something may happen at last for MRL

[victorfromportugal] 21/11/2005 15:09

Simon colwell? what do you think?

[victorfromportugal] 21/11/2005 15:06

Nice one! they wash their hands from the political issues of Bolivar in Venezuela and pocket MASSIVE MILLIONS!!! what are they going to do? stop doing business in gold? any plans? projects? at last the management will no longer the excuse of being too busy in Venezuela!

[victorfromportugal] 21/11/2005 14:54

MANAGEMENT CASHES IN IN VENEZUELA!!! SELLING BOLIVAR TO GOLDFIELDS

News from Canada NewsWire

Gold Fields To Combine Bolivar Gold With Its International Asset Portfolio
08:18 EST Monday, November 21, 2005

JOHANNESBURG, TORONTO, Nov. 21 /CNW/ - Gold Fields Limited (Gold Fields) (NYSE and JSE: GFI) and Bolivar Gold Corp. (Bolivar) (TSX: BGC) today entered into an agreement by which Gold Fields will combine, through a court approved plan of arrangement, all of the outstanding securities of Bolivar with its international asset portfolio for a total cash consideration of approximately US$330 million (approximately ZAR 2.2 billion).

Bolivar shareholders will receive C$3.00 per common share. This consideration equates to a premium of 40.9% over the volume weighted average trading price of Bolivar over the prior 30 trading days and a premium of 18.6% on the closing price on Friday, November 18, 2005.

The holders of common share purchase warrants of Bolivar shall be offered the following cash consideration:

[made1686] 21/11/2005 10:44

some sucker this people are good at coning people

[victorfromportugal] 21/11/2005 10:42

PRIVATE PLACEMENT, after re-reading stuff about Medoro, it seems that after Goldfields bought shares in january , there was ANOTHER rights issue at 6p in april for 30 million shares. does anyone have any idea who that was for? Comments welcome. cheers...

[victorfromportugal] 20/11/2005 22:13

are you sure ???? if so and if it goes up later, it could be worth MILLIONS!!!! maybe not such a turkey after all... but too early to call...

[made1686] 20/11/2005 01:17

that will help mrl as the will get more sargold shares when they payed at the end of the year and end up with a biger holding use the cash to buy them out

[victorfromportugal] 19/11/2005 16:37

Unfortunately Sargold shares hit lowest at 15p versus 50p a few months ago...

it's a catastrophic trend!!!

[made1686] 18/11/2005 10:48

still 6p of cash + sargold shares v just come here a week ago to pick up a cheap cash shell have we

[victorfromportugal] 18/11/2005 10:02

Prospects For Medoro Get Worse As Gold Fields Quits Sardinian Project and Bolivar Gold May Follow.

Apart from a little light relief at the end of October when Canadian investors muddled an announcement from a private company Medora with poor old Medoro and set its share price on fire for a brief period, there is still no good news from the company which used to be AIM listed Gold Mines of Sardinia. Back in March 2004 Medoro obtained a secondary listing on AIM, had around C$10 million in the kitty and was free carried on practically all exploration on the island of Sardina for some time to come. The game plan, although not well promoted at the time , appeared sound with plenty of Italian input at board level. Guiseppe Pozzo was the chief executive and Bolivar Gold was represented on the board by Serafino Iacono, its chairman and chief executive and Miguel de la Campa, president and COO.

At one time Iacono was described as the prime mover behind Medoro as he had plans for its expansion in Italy and elsewhere in Europe. It may be apocryphal, but he is said to have boasted that there were two countries that he really understood and where he would succeed. The first was Venezuela where Bolivar Gold has most if its assets, and the second was Italy, his home country. Well Hugo Chavez, the president of Venzuela, has blow a hole through the first claim with his combative rhetoric which has alarmed both the US and the resources industry. As for Italy, the second quarter results published at the end of August reveal just what the problem is there.

Gold Fields had expected to commence a 2,000 metre diamond drilling program on the Monte Ollasteddu project in Sardinia in July, subject to the receipt of a Research Permit. Once again, the company encountered delays in obtaining the necessary permissions and approvals to commence this program and no predictions could be made as to when it would start. Also Medoro had been unable to find a suitable joint venture partner for its Pestarena project and, combined with the difficult regulatory environment in Italy, has decided it would be more appropriate to allow the property to revert to its original owners rather than make a significant investment in exploring the property with its own funds.

So much for the influence of the Italians on the board of Medoro in getting a bit of sense out of their bureaucrats or their compatriots. No wonder Gold Fields announced earlier this month that it had formally relinquished its right to earn a 60 per cent interest in Monte Ollasteddu from Bolivar Gold. The reason was simply that the major had become bored with the continuing difficulties in obtaining drilling permits in a timely fashion. And worse news was to come. Bolivar Gold has also advised Medoro Resources that it is reviewing its position with respect to its option to earn a 70 per cent interest in Monte Ollasteddu.

So what does the future hold now for Medoro, shareholders in the UK and Canada would like to know. Whether they get an answer when the company announces its next results at the end of the month is doubtful as the directors seem to have lost all interest. On the plus side the company has some money in the kitty and Gold Fields has a 13.4 per cent holding but that looks about it. Little wonder that well known newsletter writer Doug Casey recently wrote Medoro up as a company offering an early entry into an up-and-coming shell company.

The only excuse for the directors of Bolivar Gold is that that they have had to contend with comments by President Hugo Chavez that nationalization of the mining industry was a real possibility moving forward. Shareholders in Bolivar can take some solace in the fact that its Choco 10 operation achieved commercial production on August 1 making it much harder for the government to retract. For 2006, Bolivar expects to produce 190,000 ounces at a cash cost of around US$185 per ounce, up from previous guidance of 140,000 ounces as a result of higher grade mill feed. Not only is production underway but exploration potential elsewhere on the Choco 10 property, as well as throughout the El Callao district in conjunction with its joint venture partner, Gold Fields, is progressing well, with the drill results to prove it.

Serafino Iacono stated, "We have enjoyed a very strong relationship with the Venezuelan government and in particular with the Ministry of Basic Industries and Mining and CVG and look forward to continuing that relationship in the future." Bolivar investors hope this is indeed the case and, if it is, maybe he will find time to make sure that some of the Bolivar Gold success finally makes it ways into the Medoro camp. On his current track record, however, few investors would bet on it.

as given above (for the record)

[made1686] 18/11/2005 09:19

yes gold at twenty year high ss and this doing sod all a fiber and crook

[feroza] 18/11/2005 08:27

not going anywhere