Markets FT GBN.V Business Profile

According to the Financial Times website, the holdings in GBN.V of Resolute Funds have increased from ~8 million shares to 15 million. Some of the numbers and descriptions in this file are completely erroneous, so it can't be relied upon.

Bear in mind that this information might be erroneous, as there was no SEDAR alternative monthly report for changes in ownership greater than 1% of the company. Normally these monthly reports come out in the second week of the month on the 8th.

There was no such report for January. Resolute Funds holds a very large portion of the Australian gold miner, Crocodile Gold. (CRK.TO) Very possibly with the hostile bid for a majority of the shares in Crocodile Gold that by Luxor that Resolute may have increased its holdings in GBN.V.

Very likely a hostile bid is in order for GBN.V, as the share price has been so beat up by extreme dilution and information not forthcoming. Personally, I would not be merging GBN.V with any money-losing gold company with no growth profile. This would be casting pearls before swine. Sure GBN.V has a huge development deficit, but OTOH, there is plenty of room for growth. The company has stated for its part that it can pay for its own development without further dilution.

Resolute, for its part, participated in a financing for ~28m. shares, whereupon they promptly sold some 20m. shares into the last price rise, paying for their investment completely. Likely they will have cashed some warrants, as they are were sitting on some 12m. But there has been no change in the net issued and outstanding shares on the GBN.V website.

http://markets.ft.com/research/Markets/Tearsheets/Business-profile?s=GBN:CVE