GREY:LBEFF - Post by User
Comment by
rocksolid47on May 11, 2010 2:15pm
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RE: RE: LBE on the move!!
RE: RE: LBE on the move!!Millwright / Victor
LBE is in serious financial trouble wrt to the long term share holder. My salient point. You have to look at it without the rose coloured glasses. Jilin Jien will benefit from the 51% takeover “and” will never give it up..not a chance. Whether LBE makes money or loses money, Jilin Jien wins. I LBE fails to meet production targets, JJ wins because they exchange debt for equity. If LBE makes money (after the debt is serviced) they win because they get their money back & still own a majority stake.
You are an accountant, right? Tell the truth about it man, anything else is unethical. Insults don’t change a thing. The one redeeming thing that came out of this ridiculous execution of a mine plan is that LBE long term shareholders didn’t lose everything to bankruptcy. On that point I concede.
Time will tell and I am very interested in the financials that come out this week. Change your glasses before you read them.
Rocksolid