Yes Mike, pleased! Even though not by choice (the “lame Duck” BOD wanted a vehicle to fund other projects). Cerro ended up with the simplest and cleanest way forward. Everyone should be thankful. Former BOD resigned and we will have a BOD that is going to implement original intention that followed as a result of January 2016’s acquisition of Cerro’s mining concessions by AURYN.
Quarterly Report March 31, 2016
The Company informed its shareholder that any proceeds directly resulting from the AURYN transaction will be used to return value to shareholders directly rather than using proceeds for exploration of new projects.
Quarterly Report March 31, 2016
http://www.otcmarkets.com/financialReportViewer?symbol=CDCH&id=158700
The notion held by some shareholders that maintained AURYN would somehow use Cerro as a shell to have access to US markets is/was sheer nonsense. I posted my sentiments on the main thread regarding the F-1 application for a ticker on the OTCQX® or OTCQB® tier of OTC Markets:
My thoughts here are that Cerro becomes compliant with reporting, has a NOBO list compiled, and receives a dividend of the free-trading AURYN shares.
Thereafter, Cerro continues basically as an empty shell, but still retains the original shareholders. Cerro, the company, can pursue new projects as well as potential funding for new opportunities. Does MASGLAS come to anyone’s mind besides mine?
A dividend declaration entitling a pro rata number of AURYN shares is the method of preference once AURYN becomes free trading.