GREY:ARGEF - Post by User
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Mininggeneralon Sep 11, 2019 1:20pm
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Post# 30116906
Stornoway-bankruptcy post
Stornoway-bankruptcy postpierrelebel (21) September 11, 2019 - 11:30 AM RE:Selling the mine Roberto10 - Clearly you do not understand the situation. The fact there are 926 million shares outstanding is irrelevant. It has nothing to do with reality. A company has assets and liabilities. When the liabilities exceed the assets and the company can no longer pay the interest on the debt or pay its suppliers, it files for bankruptcy This is when the receiver sells the assets (mine, equipment, etc...) and take the proceeds to partially pay the creditors. At this point the original company exists no more other than on paper. The shares have no value as nobody would buy them. Whoever buys the mine has clear and free title to it. If they make money with it, it is their money. The original shareholders (like yourself) have lost their investments and that includes La Caisse du Quebec. Now, maybe English is not your first language and you need the situation to be exlained to you in French. If so let us know.