CVX- COV-TGF merge GOLD spec hugh upside

[JBmurc]

Watch the 11c sells because very soon I'm going to buy up large the TGF & COV will put cash with A+ grade exploration ground -Tony sage of CFE is all over this deal an will hold a sizeable chunk of the new TGF if he didn't think much of the exploration ground COV had he wouldn't have tried to takeover COV awhile back -COV permits right next door to a 5moz an 1.5moz discoverys (rough est. COV permit hold between this amount say 2moz)

COV + TGF 30m CASH = in 2yrs a gold producer




ASX ANNOUNCEMENT 17 November 2009

ASX listed Australian gold company Tianshan Goldfields Limited (ASX: TGF) (“Tianshan”) and


fellow ASX listed Australian gold company Corvette Resources Ltd (ASX: COV) (“Corvette”) have


agreed in principle to enter into a conditional merger implementation agreement to merge the two


companies by way of a Scheme of Arrangement (Scheme). The parties will work towards the preparation


and execution of a formalised merger implementation agreement to fully document the terms of the


Scheme.


It is proposed that, under the Scheme, Tianshan will acquire all of the issued shares in Corvette in


exchange for the issue of shares in Tianshan. The consideration for the Scheme will be two (2) Tianshan


shares for every one (1) Corvette share held on the implementation date of the Scheme. The boards of


Tianshan and Corvette have unanimously agreed on the consideration for the Scheme and believe the


merger represents an opportunity to create a new entity better positioned for growth than either company


on a standalone basis.


Upon implementation of the Scheme the merged entity will have a market capitalisation of approximately


AU$60M. The board and management of the merged entity are currently being determined, but it is likely


that key executives of each company will be retained. Further details of the board and management of the


merged entity will be detailed to the market in due course.


The Tianshan and Corvette boards believe the combined corporate, management and technical strengths


of both companies will result in increased financial and support capabilities, providing a sound platform for


on-going exploration and future development activities.


The merged entity will have approximately AU$30M in the bank and the highly prospective Plumridge


Gold Project in Western Australia.

[drillfix]

JB, wasn't there a million seller at 11c ? But now they are gone.

Did you just take out 11c? or what actually happened?

[Corporate]

JB, you and I are looking at the same thing

TGF with $30m in the bank and shortly to be merged with COV looks very good.

What do you think is a better entry, TGF or COV?

Have you purchased yet?

[drillfix]

JB, you and I are looking at the same thing

What do you think is a better entry, TGF or COV?

Thats an easy one, the one which is cheapest

Can I ask both you guys a question.

How do you guys find these stocks, before or after the events? as in do you watch the Tony Sage dude and all his activities or were you just watching either of these companies first? If the companies, then what actually drew you to these companies?

[Corporate]

Thats an easy one, the one which is cheapest

Hey Drill, i'm not sure it is that simple. If the merger doesn't go ahead - which has the lowest downside...The one backed by cold hard cash or the asset.

CFE also owns more of COV than TGF.

Can I ask both you guys a question.

How do you guys find these stocks, before or after the events? as in do you watch the Tony Sage dude and all his activities or were you just watching either of these companies first? If the companies, then what actually drew you to these companies?

I own CFE which owns (I'm sure you know) a huge basket of assets, of which TGF and COV are two. Because of this I follow each with interest. Tony spoke VERY positively about COV and the proximaty of Plumridge to Tropicana (5moz). Every core hole has been exactly the same as those drilled in tropicana.

TGF and COV is a great marriage!

[drillfix]

Thanks Corp,

When is the deal to be finalised?
and
Where do you see this co being in 6 months time, both SP and FA wise?

[JBmurc]

Hey Drill, i'm not sure it is that simple. If the merger doesn't go ahead - which has the lowest downside...The one backed by cold hard cash or the asset.

CFE also owns more of COV than TGF.



I own CFE which owns (I'm sure you know) a huge basket of assets, of which TGF and COV are two. Because of this I follow each with interest. Tony spoke VERY positively about COV and the proximaty of Plumridge to Tropicana (5moz). Every core hole has been exactly the same as those drilled in tropicana.

TGF and COV is a great marriage!

Well I brought 860,000 TGF @11c so I'm very confindent the merge will go ahead CFE want it to happen they are the biggest COV holder an major TGF- COV need cash TGF's got 30mill penatly to drill an JORC up Plumridge to a stage that a major will prob come along an buy up the lot for 600m+ within a couple years the merged group should be worth 55m-60m

I brought TGF beacause it much of muchness an there was penatly on offer at 11c
the deal is 2:1 so paying 22c for COV the same as 11c for TGF

also worth noting TCF top 20 hold 91% of the shares CFE hold 20% tcf 47% cov

[Corporate]

Well I brought 860,000 TGF @11c so I'm very confindent the merge will go ahead CFE want it to happen they are the biggest COV holder an major TGF- COV need cash TGF's got 30mill penatly to drill an JORC up Plumridge to a stage that a major will prob come along an buy up the lot for 600m+ within a couple years the merged group should be worth 55m-60m
I brought TGF beacause it much of muchness an there was penatly on offer at 11c
the deal is 2:1 so paying 22c for COV the same as 11c for TGF

also worth noting TCF top 20 hold 91% of the shares CFE hold 20% tcf 47% cov

Only $55-60m? That is what it will be worth after the merger with the issue of the new shares.

Where did you get the top 20 list for TGF from?

Cheers
C

[Xerof]

I got into this last week, bought TGF rather than COV for the reason Corp noted - it's a cashbox worth 13 cents if the merger doesn't go through, whereas a failed merger would mean COV would then have to go to the market for some cash.

In theory, the pricing should stay in lock-step at 2:1 until the merger is finalised, and that looks like being early 2010

CFE connection was the link for me Drillfix

[drillfix]

Thanks guys, lots of good info flowing through from both of you. Excellent.

With regards to Gold, I have been a little suss on many of these WA gold type plays as they always start out with a great story but also end with Disaster, so Im just a bit overly cautious.

CFE connection was the link for me Drillfix

Thanks Xerof, the more connection / direction the better, Cheers~!