GREY:GDPEF - Post by User
Comment by
kenmaron May 14, 2019 6:21pm
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Post# 29747182
RE:RE:RE:RE:Possible Scenario!
RE:RE:RE:RE:Possible Scenario!
50 percent chance we get something and 50 percent chance we get nothing, although 1 cent shares were almost nothing when we could trade. Keeping a balanced outlook is all. Can't be too dissappointed that way.
Primero is a company that survived long enough to get swallowed by First Majestic. They sold the Black Fox(money losing) mine to Mcewan for 25 or so million. Had a mill and resource and you'd think might have gotten more than it did. Primero were in a crunch and owed lots. Sold another property for 15 million and kept the core asset mine. Had debentures owing of 75 plus line of credit that were covered in the deal. Had to pull it off with the Mexican authorities in charge.
2014-15 sucked in the sector and capital was hard to raise for miners.
Maudore Minerals couldn't find any interested bidders and the assets were forfeited after a long and drawn out period. Quebec might have slightly different insolvency rules. They owed over 40 million. Osisko ended up with their Osborne-Bell property, for example, and they didn't do get it with a friendly take-over of Maudore.
Only a couple more weeks.
Got NBA playoffs to pass the time