GREY:GPLDF - Post by User
Post by
Heywood_Silverson May 10, 2023 5:22pm
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Post# 35441806
Running the numbers here....
Running the numbers here....GPL's last financials (updated through 6/30/322) showed equity (i. e. net worth) of about $75 million.
Let's assume half of that as sellers may only get 50 cents on the dollar via a bankruptcy sale, leaving about $35 million. How much will the bankruptcy trustees charge? Legal fees usually amount to about 1/3rd of net proceeds. That leaves about 24 million to be divvied up between 47 million shares or about 50 cents a share.
This is sorta of my semi-optimistic forecast for us shareholders. If gold explodes prior to any sale we could easily fare better. At this point, I'd be happy to get back about half of my investment as my basis is 95 cents a share.
If memory serves, I did vote against the Beadall merger years ago and I wish more would've voted it down as the company's fortunes went nowhere but south after that boondoggle of an acquisition.