GREY:GDPEF - Post by User
Comment by
damianchosenoneon Apr 29, 2019 12:04pm
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Post# 29683754
RE:amount of debt owning
RE:amount of debt owningI believe Anaconda will probably make an offer for the entire company as they would want the mill and Dufferin for quick production and cash flow and the tax credits for straight up profit and not payign taxes on their production.
Anaconda would have to pay the 2.2 million to CRA, everything else could be offered in shares, especially since they do not have enough money to buy out with cash.
Anacind ahas wanted Dufferin for a long tiem now and they are probably very happy it went into insovency. Now they can offer way less than they had to a year ago and can do it all with shares, whereas befor ethey would have had to pay off a large portion of RCG with cash; cash they did not have.
Also, a year ago the shareholders of RCG would be able to vote on whether or not Anaconda's offer was good enough; now we don't get to.
If they offer 75 million, then Sprott lending and the creditors might get 16 million in shares of ANX ( 1 for 1 and not at a haircut or discount ) example: anx shares are 35 cents each = 16 million/.035= 45 million shares.
30 million left for the rest of shareholders= 175/35= 5: 1 ratio rcg shares to anx shares.
Maybe it will be higher or lower, who knows!
Maybe the group that was going to set up an IPO for Australia that acquired Corcoran for money will make a deal as they want to list on TSX. ( Frank Terranova was CEO)
heard there was 7 offers and a few stated that they are willign to offer more if their bid wasn't the highest