GREY:LRTNF - Post by User
Comment by
Sherry35on Jan 06, 2023 1:19pm
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Post# 35207315
RE:RE:RE:RE:RE:RE:Posts
RE:RE:RE:RE:RE:RE:Postsroberto146 - You made some very good points on secured and unsecured creditors. Lets assume the lenders are secured creditors in the PGM CCAA action given the financials aren't very specific.
The value in the ground based on 1.653M Au ounces (NI 43-101 report), POG $1700 US ounce and 90% recovery (by mill) is $2.53B US. Lets assume PGM estate gets an offer for 10 cents on the dollar for Au alone, this puts PGM's value at $253M US. If the lenders are paid out at 30 cents on the dollar or $37M US ($51M CDN), this leaves $216M US for the unsecured creditors. The common share holder expects to get approx. 29 US cents per common share. Again, this calculation does not include the working mill asset and equipment which is subject to capital depreciation. Nor does it include the legal fees which are charged against the PGM estate. So, lets conclude the mill value cancels the legal fees when the dust settles.
If the lenders get paid out in full at 100 cents on the dollar, The common share holder expects to get approx. 11 US cents per common share. The common share holder could expect 11 to 29 cents US per share. Time to put a bootom feeder BID in at 1 cent based on PULCN's last post. That's were the mob is right now.