Just in case there is anyone on here that doesn't read Igloo....

Merger goes through unmitigated.

You will receive 1 share of WTG for every 2.5 shares of CMM. F will control 51% of the company. Since WTG is basically a shell with no assets, then WTG should start to trade at around what CMM should have been…except that it will be discounted because of F…so…maybe 80cents to a buck? This means 32-40 cents in current CMM pricing.

With RTO into Intergeo

Further dilution.

Without RTO into Intergeo

Interesting – especially with the OSC spotlights hopefully shining on these back-doors. What will happen in this case? I have no idea. Perhaps see – Merger does not go through thoughts below…

Merger goes through mitigated.

There is a better offer – say 1 share of WTG for every 2 shares of CMM (I say this tongue in cheek since we know it should be something like the exact opposite – 1 CMM for 2.5 WTG). At any rate, this means 40-50 cents in current CMM pricing.

Merger does not go through (With or without white knight)

Interesting – will F sell his stake after CMM miraculously exceeds grades, tonnage and declares new-found resources at 8 million ounces with a thorough and full 43-101? This would be ideal in my mind – both F makes money and the shareholders get their company back. How can this happen? I think delaying the deal, though “unacceptable” would be telling if Intergeo pushes back their IPO. Delaying the deal is in the hands of the regulators, with the CSC and shareholders feeding them information.

Comments

If the regulators let this business combination go through then this can only mean that their rules did not allow them to stop it. Why – because this is connect the dots that a first grader could figure out. I don’t think regulators are blind. The following in my mind are critical points.

WTG is 95% controlled by F – no fair market value exists (cannot therefore assess the business combination value on this fact. Given the assets of WTG are weak at best.)

How could CMM’s NI 43-101 get chopped by up to 75%? Is there any precedence for this in the mining industry? I can’t imagine that the TSX would accept this ‘interim’ report (unless their rules do not allow).

Based on this resource hatchet job – WTG is still happy as Larry to continue with the business combination? Huh? Are they insane? Or – do they KNOW that the resources are all still right there in the ground – after all 40,000 drill results don’t lie. If so, how can shareholders POSSIBLY be in possession of all material information in order to make an informed decision on the business combination?

Any other thoughts about the possible scenarios for this plot folks?