Monday, September 13, 2010

Gold in Canada: Goldstone names Cunningham as chairman,,,, SGC.v,, KTN.v, GG, NEM, ABX, KGC, AUY, GDX, SLV

  Fight for the Goldstone Resources was very fast and brutal - we like that Mr Cunningham has so low level of tolerance for sloppy performance of the management. After the merger stock just collapsed even below the value of Roxmark Mines main asset 30% in Hardrock. We have raised our concerns before and now we think that it is very positive development for the company, when majority shareholder will lead its management team. With gold at the level of 1250 and Premier Gold flying in the skyes value of the Goldstone Resources should be well north of 1.0CAD at least based on Roxmark Mines market cap before merger.

2010-09-13 12:29 ET - News Release

Mr. Philip Cunningham reports


Goldstone Resources Inc. has appointed Morris Prychidny and Paul Little as directors of the company, and has appointed Philip Cunningham (currently co-chairman of the company) as the chairman.

The board also appointed an executive committee of directors which will seek to take appropriate steps to put Goldstone in a position where, in the words of Mr. Cunningham, "the unrealized underlying value of its assets may be unlocked." Members of the committee are Mr. Cunningham, Mr. Elliott, Mr. Prychidny and Mr. Little.

Mr. Prychidny is a chartered accountant and has a BA in economics from the University of Western Ontario. He is a director and Secretary-Treasurer of Orion Capital Inc. (an investment company focused on start-up ventures predominantly in the junior mining field) and a director and officer of Woodbine Downs Ltd., which operates and owns a large portfolio of industrial/commercial real estate in the Toronto area. Mr. Prychidny is also a director and audit committee member of Harricana River Mining Corporation Inc., a private mining exploration company, and a director of Northfield Capital Corp.

Mr. Little is a chartered accountant and has a BA in economics from the University of Toronto and an MBA from the University of British Columbia. Mr. Little is president of Westover Investments Inc., an investment company, and from 1986 to 1999, he was a principal of a Toronto-based merchant bank, Gornitzki, Thompson & Little Company and president of GTL Securities Inc., a related securities dealer. From 1980 to 1985, he was vice-president and chief financial officer of Union Gas Ltd., a Canadian natural gas utility. Mr. Little is a director and chairman of EGI Financial Holdings Inc. and a director of Arius3D Corp. Over the past 15 years, Mr. Little has served on the board of directors of 12 Toronto Stock Exchange-listed companies and one New York Stock Exchange-listed company.

Goldstone also announced that Mr. Cunningham has notified the company that he has withdrawn his requisition previously delivered on Aug. 23, 2010, for a special meeting of shareholders.

We seek Safe Harbor."

2010-09-10 09:22 ET - News Release

Mr. Gary Conn reports


J. Patrick Sheridan Jr., Alan Ferry and Richard Williams have resigned as directors of Goldstone Resources Inc.

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