Post by
damianchosenone on Jun 14, 2019 11:00am
Lockdown: RCG DELAY
They cannot delay the sale process ,uch longer as the Bankruptcy insolvency act states that a company has up to 6 months from time of filing to coem to a conclusion and come up with a sale/proposal etc..
They basically have until end of July. For matters/negotiations that they longer, they would have to apply for a receivership, however that process is much mor eexpensive.
Today was the last day for bids to be completely submitted and refined.
Leftbook, by JUly 12th we should know who the next owners are and they will be able to begin mining/drilling right away.
Good chance that group will get the gold out of the tailings and stopes that is easily available right away while diamond drilling other areas. They will have 4 good months of mining/exploration available and will start right after they win their bid!
Whoever offers the best bid, also knows that Dufferin and Tangier both can and will be 1 million ounce properties with exploration and that gold is imminent for moving much higher,. They also know that Juniors in this bear market have been killed over 90% and that soon there will be a meteoric rise.
Sprott Lending with Grosskopf stated on Kitco a few weeks back that they are buying and investing in Juniors and gold when everyone is selling as they know the bulls are coming soon!