GREY:LRTNF - Post by User
Comment by
UptickHedgeon Feb 26, 2023 10:40pm
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Post# 35306359
RE:RE:RE:March is crazy and Poland =OIL, GOLD get ready PGM
RE:RE:RE:March is crazy and Poland =OIL, GOLD get ready PGMIMO there is no outright sale that yields for shareholders. IF there was 200 mil out there for it like some have surmised, Sprott lending would have taken it for themselves. Sprott lending said there was nothing acceptable. Odea is not making a decision on the first 180m of debt. Only after the secured debt is paid does his phone ring, unless he gets investors and staves off foreclosure.
They spoke of a scoping study and Sprott lending speaking to the interested parties directly. IMO the only hope existing shareholders have is for prospective buyers buying some of the company perhaps with investment from current insiders and giving this a go with the equity and debt somewhat intact and everyone playing along.
The longer a non-performing mine sits accruing 4m a month in care and maint not making any money the worse it is. There’s equipment, employees laid off, taxes due, debt outstanding. To the extent this form of the company can be rescued it needs to be rescued asap, stop accruing debt, and start producing.