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TYHEE GOLD CORP
(PRESS PROFILE TAB FOR FACT SHEET & UPDATES)
Message: Example of lowball offer that seems high
An example came up today of a lowball offer, made when gold is very weak and when the share price is very depressed, that could tempt shareholders to sell. This is what I am talking about referring to Interinvest. Crocodile Gold (CRK-T) acknowledged an impending offer from Luxor Capital of purchase of 85% of CRK shares @ .56. The shares have been as low as .31 within the month, so the offer looks very good on the surface, but the share price was $2.25 two years ago, and the only change in the company circumstances is a particularly heavy tropical rainy season which flooded their pit last year. They have compensated, fixed the problem as far as we can see, huge potential resources of gold are there along with a vast land position, and production was not bad last year as well, but the share price has languished anyway. We need to be aware of this kind of action.
Crocodile Gold Responds to Luxor Press Release
TORONTO, ONTARIO--(Marketwire - Dec. 14, 2011) -Crocodile Gold Corp. (TSX:CRK)(OTCQX:CROCF)(FRANKFURT:XGC) ("Crocodile Gold" or the "Company") acknowledges the press release issued by Luxor Capital Group ("Luxor") on December 13, 2011 announcing its intention to make a partial bid to acquire, at a cash price of C$0.56 per common share, up to 215,386,435 common shares of the Company which, together with the common shares already owned and controlled by funds managed by Luxor, would constitute approximately 85% of the outstanding common shares of the Company. Luxor's offer will be conditional upon there having been validly deposited and not withdrawn a number of common shares which, when taken together with the common shares already owned and controlled by the funds managed by Luxor, represent at least 50% of the issued and outstanding common shares of the Company.
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