GREY:GDPEF - Post by User
Comment by
LeftBookon Jun 29, 2019 6:18am
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Post# 29875757
RE:RE:RE:RE:*****RCG. $1400 PLUS GOLD****)
RE:RE:RE:RE:*****RCG. $1400 PLUS GOLD****)
gets bought for
20.8 tax credits
+ 20.8 cash to liabilities
= $41.6M
mining assets for free
Assumes buyer has $20.8M of taxes to pay and has $20.8 cash to pay them.
The buyer acquires the tax credits of RCG freeing up the $20.8M of cash for paying the creditors.
The buyer takes position of the mining assets effectively for free.
The buyer could sell the mining assets for $33.1M recorded on the balance sheet.
Perhaps at a discount. Perhaps at a premium.
For now call it a $33.1M profit.
In this scenario Eric Sprott and other investors take a haircut on their investment.
They invested at an average of 14c/sh
They receive $20.8/$175M = 11.9c/sh