Things certainly appear to be heating up. SOLG released it's response earlier this evening:
https://www.ii.co.uk/news/solgold-disappointed-by-cornerstone-capitals-rapid-bid-rejection-al1549617281984111600
Quite unusual and aggressive language in the second paragraph (of the actual RNS):
"SolGold notes the apparent lack of consideration given to its announcement that it intends to make apremium offer for Cornerstone securities. Cornerstone’s announcement on 31 January 2019 was lodgedwith the TSX at 09.52 EST, less than three hours after the announcement of the intention to make an offerby SolGold. Was there time that early in the morning to actually make contact with shareholdersrepresenting more than 50% of those outstanding? Did Cornerstone have time to hold a board meeting toconsider the offer between the time board members woke up in the morning and the time the press releasewas issued? Did the board of Cornerstone form an independent committee of directors to consider, onbehalf of shareholders, the premium to be offered by SolGold? Did Cornerstone receive advice from afinancial advisor with respect to the proposed offer before issuing its responding news release dismissingthe proposed offer? These are all questions that SolGold believes holders of Cornerstone securities,specifically minority holders, should be asking in light of the responding press release issued by Cornerstone."
@Moureeses note sure if this what you were referring to earlier, but I missed it. Seem to summarise things quite well:
https://www.ii.co.uk/news/solgold-criticises-cornerstone-capitals-management-as-it-mulls-offer-alliss-al1548931367771100500
Based on the above, it seems to me Cornerstone are 'cornered'. I think NM has lost patience, and presents a fairly compelling case. Unsure why they haven't quantified the debt & interest of the 'not so free' carry in bold letters.
I'm more confident that this will proceed now. Once/if it does, it is the final piece in the puzzle.
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