Colt Resources A0RM93 V.GTP
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2014-09-29 12:54 ET - News Release
An anonymous director reports
AMENDMENT TO COLT MIDDLE EAST TRANSACTION
Based on a review of the original transaction announced on Sept. 11, 2014, between Colt Resources Inc. and Richard Quesnel, president and chief executive officer of Colt Resources Middle East (CRME) for the sale of the remaining portion of Colt's CRME investment, Colt, which is pursuing a path of company and management reorganization, and Mr. Quesnel have renegotiated the conditions of the original offer on the following amended terms.
The Company will proceed with the sale to Mr. Quesnel for a minimum of 3,000,000 and a maximum of 3,055,000 shares at $0.20 per share resulting in proceeds of $611,000, securing at least the same proceeds as previously announced on September 11, 2014. In addition, subject to CRME minority shareholder right of first refusal provisions being waived or unexercised and upon completion of the transaction, Colt may now retain up to approximately 9 million CRME shares instead of divesting its entire position in CRME.
About Colt Resources Inc. Colt Resources Inc. (www.coltresources.com) is a Canadian mining exploration and development company engaged in acquiring, exploring, and developing mineral properties with an emphasis on gold and tungsten. It is currently focused on advanced stage exploration projects in Portugal, where it is one of the largest lease holders of mineral concessions. The Company's shares trade on the TSX-V, symbol: GTP; the Frankfurt Stock Exchange, symbol: P01; and, the OTCQX, symbol: COLTF.
Die Nachricht ist wirklich gut und sollte etwas Vertrauen zurückbringen! Sehr gut ist die Option, bis zu 9 Million ME Shares erwerben zu können!
Als nächsten Schritt sollte eine Finanzierung erfolgen bzw. Joint Venture um schnellstmöglich die Mine mit dem dann vorhandenen Kapital hochzuziehen und Cash Flow zu erwirtschaften. Mit dem dann vorhanden Kapital bitte die CRME Shares zurückkaufen und Quesnel Gas geben lassen!
Deren Wahrheits-/Lügenkonstrukte und Annahmen sind so einfach zu durchschauen, dass es meinen Intellekt beleidigen würde, wenn ich mir auch nur 1 Sek. Gedanken darüber machen würde.
Wir wissen ja wer, was, wann und warum verbreitet. Ich hoffe, auch dort werden noch einige Dominosteine durch einen entsprechenden Sidekick unsanft zu Boden fallen.
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schlimm, schlimmer Colt
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Colt In Fray Over Balochistan Minerals — Pakistan
The Pakistan plot for a Portugal minerals developer thickens. The latest is centered on Paris and ongoing talks among Pakaistan government officials and miners.
Negotiations among Pakistan government officials, the Tethyan Copper Co. and other parties are taking place in October in Paris. Reko Diq in the Chagai district of Balochistan is at the heart of those discussions; it has the copper and gold deposits that Colt Middle East and that Canada’s Richard Quesnel covet.
Colt Resources‘ shift on the sale of its Middle East unit [in September] amounts to 9 million shares returned to Colt Portugal shareholders at a transacted price of 20 cents CAD.
If Pakistan’s Chagai Hills Balochistan deposit amounts to the billions of dollars worth of copper and polymetallic elements that some believe it is worth, the 9 million shares for matter of record equal about 20 percent of Colt’s Middle East Unit. Related article.
Aside from the questionable corporate governance and transcontinental shift for the Portugal mine developer, I see this as a step forward for Colt Resources (GTP in Canada).
If the Middle East unit, under Richard Quesnel, a Quebecois financier in his late 50s, realizes even a 10th of the potential of copper property Reko Diq in Pakistan, those 9 million shares might price up to $2 each. That is a multiple of the current enterprise value of parent Colt, one of our TCR 6.
See:
http://www.thenews.com.pk/...seek-out-of-court-settlement-on-Reko-Diq
This entire Colt affair comes as Nikolas Perrault, in his mid-40s, and his Colt board re-size the company and one hopes prepare to sell off one of the two Portugal units: tungsten in north and gold in south. Or develop the gold mine. Or sell the monastery in the north, with vineyard and port distiller.
As for this Middle East affair at Balochistan, Mr. Quesnel is likely — or to be careful, might be — the “source” cited in the article on the Tethyan proposed settlement in Pakistan. See link above. Or perhaps one of his top executives or Middle East advisors, who include: Shahal Khan, Chairman of its Board; Haji Malik Shah Baloch, Executive Director; Shahab Jaffrey, Chief Financial Officer; and Alun Richards, Chief Investment Officer. This is my speculation alone.
Please read all of the coverage of this affair. We are monitoring events, and we continue to hold our deeply depressed GTP shares. I expect the discussions ongoing in Paris about Pakistan’s disputed copper and gold deposits at Reko Diq to show investors that Pakistan is capable of opening its borders to minerals investors.
TCR believes its coverage of Colt at thomcalandra.com [and delivered first and in some reports, exclusively to our subscribers] is in large part responsible for the return of those 9 million Middle East shares to Colt mother-ship Portugal shareholders. We shall learn more about the efforts the Colt Resources (Portugal) board is making to “restructure” its Middle East investment in coming weeks. Certainly by early November.
I am in touch with at least four large shareholders who are furious, but beginning to temper their fury, about Colt’s turn of events and direction since this Middle East foray began earlier in the year.
Pray it all turns out well for Mr. Perrault, who deserves credit along with former chief operating officer Declan Costelloe – for getting the two Portugal properties to the point where they have lined up for bankable feasibility studies. Albeit, after spending tens of millions of shareholder dollars. Like many mine developers who failed to avoid the financing and dilution pitfalls of the past 12 years.
As for studies that cost millions of dollars for engineering evaluations, third-party resource opinions, strategic issues, logistics and so on — going by the names bankables, pre-feasibilities, economic assessments and more -- these days this word-number parade means little to investors. I claim as well that these endless reports and their contingent press releases mean almost nothing as well to interested acquirers.
http://thomcalandra.com/how-to-seize-a-deal-in-pakistan/
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Stehen wir denn soooo schlecht da?
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