San Gold Corporation (SGRCF)

[goldenpolarbear]

50 It is important to note that the offer was accepted after a period of negotiation and in consultation with the Province. The Monitor concluded that the Purchaser's offer "was the superior offer, and provided the best opportunity to position the mill, once restarted, as a viable going concern operation for the long term"

52 "...risks associated with a Tangshan non-binding offer at that point in time, the consideration in the Transaction is not so unreasonably low so as to warrant the court entering into the Sales Process by considering competitive bids.
In my view, based on the information available at the time the Purchaser's offer was accepted, including the
53 It is noteworthy that, even after a further review of the Tangshan proposal as commented on in the Supple- mental Report, the Monitor continued to recommend that the Transaction be approved.
54 I am satisfied that the Tangshan offer does not lead to an inference that the strategy employed by the Monitor was inadequate, unsuccessful, or improvident, nor that the price was unreasonable.
55 I am also satisfied that the Receiver made a sufficient effort to get the best price, and did not act improvidently..

http://mnpdebt.ca/style%20library/mnp/files/media/documents/san%20gold%20corporation/binder1.pdf