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Red Lake Madsen Mine Ltd LRTNF

Metals & Mining Gold
Pure Gold Mining Inc is a gold mining company, located in the heart of Red Lake, Ontario, Canada. Its vision is pure and simple, to build a profitable, multi-generational growth company in the world-class gold mining district of Red Lake. With 100%-owned, fully constructed operating PureGold Mine, a multi-million-ounce gold endowment, and significant exploration upside, the company's value-maximizing strategy is to pursue operational excellence, while investing in systematic exploration and phased expansions to fuel discovery and growth for the future.


GREY:LRTNF - Post by User

Red Lake Madsen Mine Ltd > Michael Oliver Gold update, PGM = 3way split merger..
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Comment by Sherry35on Mar 13, 2023 8:31pm
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Post# 35336420

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Michael Oliver Gold update, PGM = 3way split merger..

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Michael Oliver Gold update, PGM = 3way split merger..I hope I'm wrong and that a different business arrangment can be accepted that benefits the creditors, share holders and employees. I'm just expressing my opinion to add information to the debate. Fortunately the company went into CCAA because the CCAA process is more flexible. Bankruptcy would have been a major fire sale.

One possible solution is a private organization takes over PGM on the condition the creditors take a haircut on the money owed to them by PGM. Not any different in taking a haircut in the distribution of proceeds option. The private organization gets the extra benefit of having public exchange listing.

Two major players have resigned from the company. This should indicate a solution is forth coming.
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