posted
"We have accepted an offer to be bought out at $.60 a share from a company that brings a tremendous amount of synergy for Centurion and the ability to raise capital for new projects. "
IP: Logged |
posted
The date is not provided. I'm not even positive that "We" doesn't just include the CEOs. If someone can the company and find out how many shares they have we can do simple math to determine how many shares the $5B will cover. At $.60/share it should cover 8 Billion shares.
-------------------- If you don't sweat the pennies, you're not making any money.
IP: Logged |
posted
From their 10KSB which was received on July 28, 2005. How did they become worth $5B?
"We are a junior mining company (mining companies with market capitalizations of less than $50 million) with principal operations located in Primrose, South Africa."
-------------------- If you don't sweat the pennies, you're not making any money.
IP: Logged |
posted
Buy-Out of Centurion Nears Closing Business Wire - September 16, 2005 11:05
JOHANNESBURG, South Africa, Sep 16, 2005 (BUSINESS WIRE) -- Centurion Gold Holdings, Inc. (OTCBB:CGHI), the only South African junior gold mining company publicly listed in the U.S., announced today that it is on track to close the buy-out. The Company further announced that the acquirer had completed its Competent persons report on Centurion Gold. Centurion will be issuing the full Competent persons report on the Centurion assets when it is made available to the company by a recognized AIM accredited Geologist.
Centurion also added that it expects to complete the filing for its 10Q early next week. Once the 10Q has been submitted to the SEC, an announcement regarding the finality of the buy out will be issued along with the identity of the AIM listed Platinum company and full details of the transaction. In addition, the Company will be issuing an announcement early next week regarding the reorganization of the Board of Directors of Centurion Gold in anticipation of the takeover.
Dale Paul, CEO and Chairman of Centurion Gold Holdings, Inc., commented, "The management of Centurion has been working painstakingly long hours to get the buy-out completed ahead of schedule, which it looks like we will be able to accomplish. We initially expected to have the deal close closer toward the end of the year, now it looks as though it will happen shortly after our 10Q filing. We are remarkably pleased with the progress made to date and look forward to announcing more good news in the coming weeks."
About Centurion Gold Holdings, Inc.:
Centurion Gold Holdings is the only South African junior gold mining company publicly listed in the United States. The Company is executing a roll-up strategy acquiring proven mineral assets, "growth through acquisition"; these assets consist of near revenue stream and existing low cost production operations with turnaround opportunities. Based in South Africa, the Company is ideally suited to exploit new legislation implemented by the government in May 2004. This legislation enforces a "use it or lose it" strategy, whereby all mining claims must be prospected within a designated time frame, otherwise, such prospects revert to the state, thereby creating never before seen opportunities, particularly for smaller companies like Centurion. The Company has built a strong team of experienced management and operations mining professionals to exploit these opportunities, and is positioning itself to become a major producer by continually implementing its "growth through acquisition" strategy.
Forward-Looking Statements:
Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Securities Litigation Reform Act of 1995. The company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this press release the Company will appropriately inform the public.
SOURCE: Centurion Gold Holdings, Inc.
U.S. MCC Financial Services Leslie Richardson, 310-453-4667 x239 ir@mccglobal.com or U.K. and Europe MCC Financial Services Carrie Howes, +44 (0) 207 408 5406 ir@mccglobal.com
IP: Logged |
posted
CGHIE, dropping the E next week with the 10q, and should explain how we cash in for the .60 from the AMEX company. I don't see how people wouldn't be buying here? I guess many will wait until its too late.
Buy now at .25 and sell next week at .60 looks quite possible.
As always, do your own DD and trust nobody but yourself.
IP: Logged |
posted
Shares are being bought in multiples of large blocks at .24 to .26 per share. I bought more shares also....this has to be "for real"
IP: Logged |
posted
The only problem other problem I can see is that it might not be a done deal. I think they've already voted on it, but it just doesn't seem final.
-------------------- If you don't sweat the pennies, you're not making any money.
IP: Logged |
posted
JOHANNESBURG, South Africa--(BUSINESS WIRE)--Aug. 1, 2005--Centurion Gold Holdings, Inc. (OTCBB:CGHI - News), the only South African junior gold mining company publicly listed in the U.S., announced today that it has signed an irrevocable agreement with a UK listed company for such company to bid to purchase 100% of the common stock of Centurion for consideration equal to $.60 per share with a value of approximately $151.1 million on a fully diluted basis.
"consideration equal to $.60 per share"
You are gonna get crappy shares in exchange.....
IP: Logged |
quote:Originally posted by grandma007: No way that minmet will come up with cash. Trades around 1-2 cents........
You have a point! But on the other hand (1) several news releases have been made to confirm that the buy-out is on plan and (2) Minmet is part of a bigger company Fundy Minerals, and it seems that they have enough muscle to flex this deal. That's IMO.
IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
