Mining Minerals & Metals Share Discussion Threads

[bongo bwana] 29/6/2009 21:05

Will have report available ASAP.

The team HERE is so on the right track with its day to day assessments.

Keep up the excellent work.

Macq's machinations have not been helpful to GEX - indeed they have deeply frustrated the officers of GEX and their efforts to advance the Solona project

[bongo bwana] 29/6/2009 21:02

Will have report available ASAP.

The team HERE is so on the right track with its day to day assessments.

Keep up the excellent work.

Macq's efforts have not been helpful to GEX - indeed they have deeply frustrated the officers of GEX and their efforts to advance the on the ground efforts at Solona.

[bongo bwana] 29/6/2009 18:56

Folks - off the top of my head my recollection of this afternoons proceedings(notes are now in workplace) is that the deal with GF [the detail of which has yet to be finalised and agreed] will be subject to ratification by GEX shareholders at an EGM.

[1waving] 29/6/2009 15:45

Suspect Macquarie tried to scupper the GF deal through the disapplication resolution, resolution 6. -- Hence the GF deal being voted on today.

[1waving] 29/6/2009 15:31

News out at 14.42hrs:--

Glencar Board Backing Gold Fields Joint Venture
Business Financial Newswire
Glencar Mining says that it intends to pursue a joint venture agreement with Gold Fields relating to Glencar's Komana Licence in Mali, West Africa.

The Board says the deal is attractive to shareholders as it eliminates funding uncertainty for up to US$32m of financing for Komana while maintaining a significant minority interest in the Komana project for Glencar.

It also provides US$8m of exploration financing to be applied on Glencar's Solona licence and on other properties currently being negotiated.

In the meantime, the Board says it is prepared to consider all realistic( firm in terms of financing) strategic corporate options that are put forward by bona fide interested parties on a timely basis.

[1waving] 29/6/2009 14:57

Willy -- it relates to the raising of funds through equity placing outside of a rights issue. ie can go to non-shareholders for a placing.

[1waving] 29/6/2009 14:53

AGM resolutions approved less resolution 6 which is disapplication of pre-emption rights which was adjourned -- which is not of consequence with the GF deal passed.

[willyworm2] 29/6/2009 14:52

AGM Results (Glencar)

GLENCAR MINING PLC

AGM Results

29 June 2009

The Board is pleased to announce that at the AGM of Glencar held in
Dublin earlier today shareholders voted to approve all resolutions
tabled, except for the Section 23 Disapplication Resolution
(Resolution Number 6), described in the AGM Notice, which was
adjourned.


anybody know what resolution 6 was??

[1waving] 29/6/2009 14:42

Glencar did say that the GF deal would probably be put to the vote at the AGM. Can GF actually vote on this ? - they own 9% of the company.

[spaceparallax] 29/6/2009 14:38

GF deal definitely preferable to the grasping financing suggested by MacQ.

[bongo bwana] 29/6/2009 13:39

quickie - we are going to have to vote on the GF deal

[dr fillip strange] 28/6/2009 17:20

front page of the Indo business section this morning


Glencar faces AGM showdown

By Nick Webb


Sunday June 28 2009

GOLD-exploration firm Glencar, led by Hugh McCullough (above), faces a shareholder revolt over its decision to hand over control of its Komana gold mine to giant South African resource firm Gold Fields.

Aussie bank Macquarie and its agents Loeb Aron have been lobbying shareholders to vote down the deal at tomorrow's AGM.

In March, Glencar agreed a complex joint venture deal with Gold Fields which may see it earn up to $40m for exploration, whilst ceding effective control of Komana to the South African firm.

- Nick Webb

[bongo bwana] 26/6/2009 08:48

Aaaahhhhh SS.

Thats SO nice.

And U are a great friend to me.

[share_shark] 26/6/2009 07:31

;-)










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