Red Lake Madsen Mine Ltd LRTNF

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

[pulcan]

hi all,  get ready for another crazy week of more volatile moves and watch GOLD. Check out the latest gold update from Michael Oliver on Gold.  This is a good one and this is the move that we all want to see past $2000 this week!  



Also, looking back at Pure Gold story and seeing now the full KSV latest report. I see a 3 way merger of a company where Eric Sprott and Sprott Resource lending Corp will take over and Maybe Mark O'Dea also with Oxygen Corp revive the company. I would say 80% ownership between Sprott and Eric and the rest would fall into Oxygen.  So for that update its a matter of time we see and the share price will start to move. So get ready for Gold and the juniors to start the rush!!

[shelby2]

wowwww Pulcan what would that deal do for us retailors? would we keep shares or a roll back, and if this were true would we see a price rise and no buyout cash? sounds like a good idea joining up but sprott lending was the one that started this mess calling in thier loan.

[jake12116]

How can you see that , what makes you think that , I've read the KSV report over a few times , I believe it will be restructured not bought out , I also think share price will go back to 10cents at least , the details I have no idea, what about Anglo ? 120 million shares strong ? 

[shelby2]

so jake ru saying this might be the deal and no buyer coming? everything stays same and starts over at a low price but new ownership, and is ashanti still with the company or will thet be paid off. so many things wish we knew more of direction.

[jake12116]

I agree I don't know anything more than what I have read in KSV reports, who's this pulcan cat he has been making bold predictions for months now , none have come true, it's difficult to predict the deal , the time & the price, 

[jake12116]

Time will tell , not thinking they will extend again, things seem to be favorable for all involved, hopefully turns out welll for all 

[UptickHedge]

I remember 3 months ago when the pumping first started. I cautioned that the only hope IMO was for the insiders to rally together and try to save their equity investment by raising funds/investor in conjunction and digging down deeper and trying again. No way to get past the secured debt. No buyout for the shareholders. No reason for a new owner to keep the current companys structure intact.... At

[shelby2]

hmmm let me think, sprott affiliates not interested just want thier money now, also the two enginers are done or resigned, so makes me think more a buyer loaming, unless they do pull together and hire new enginers and cough up more cash

[jake12116]

O'Dea said worth 1 billion dollars  we all wish lol , it's worth something however a billion seems lofty 

[shelby2]

hey if not a billion maybe lower say 750m or 850m still a good deal and all would see some cash. but gettin closer to some deal and we will not know anything till its halted, so all were doing is guessing lets just watch the sh price that would be an indicator , fingers crossed

[UptickHedge]

Shelby it laid out clearly in the CCAA that sprott lending had the say up until their 170m was made back. After that, the company had input. Since Sprott lending said there was no acceptable deal that means there is nothing even close to 170m.  Worse than that, sprott lending would likely be willing to take a loss on it.      

[Sherry35]

UptickHedge - Very accurate opinion of Sprott Lenings power in the CCAA action. The court docs indicated their controlling interest in the court monitor will consult with Sprott Lending. The other thing to remmber is the "registered" unsecured creditors could launch an appeal if they don't receive anything. They just need to form a committee and hire a law firm. With two levels of

[shelby2]

hmmmm so sherry looks like ur saying this is dead. nothing but a waste of time for retail. no buyers no seal just crumbs for sprott.

[jake12116]

Why do people have all this information?they sure make speculation a fact , 

[jake12116]

Everyone posting here knows the same thing, however they sure make bold statements,  Are this statements the truth, this will actually happen, right Pulcan ?  time will show us the truth 

[shelby2]

right on jake to many opinions which way this will go, ill wait and see just think its to good to walk away from. good luck all

[jake12116]

Damn straight brother ,  There's lots of possibilities and it's not swamp land , it's proven ground that has been operating & becoming successful 

[jake12116]

So do we know 110% that the offers fell short?  No we don't 

[UptickHedge]

fell short of what? Sprott lending told the courts any and all LOI fell short... Sprott lending is owed 170m and they told the courts that the solicitation process produced no acceptable offers.  That we know. that happened. From there we can inject a lot of speculation if one chooses to. Perhaps Sprott lending would take what was offered but didn’t think the courts would sign off on the

[jake12116]

So do you know -110% what an acceptable offer is to Sprott  no you don't , you are speculating 

[jake12116]

I realize this is a very risky situation , however I got caught with 12 cent shares , average down to 6  im no fan boy of this , these guys failed the hard working investors, big time 

[Sherry35]

The requirment for an acceptabe offer is "be made whole" i.e. 100 pennies on the dollar. That;'s the optimistic target but given the scoping study necessity, this is not a realistic goal. PGM, CM and Sprott are trying to squeeze a higher bid for the assets. The buyer doesn't give a darn about the creditors or sharehoilders becuase they can write off their losses. To a certain

[jake12116]

Doesn't give a damn , your opinions  your putting words in peoples mouths  that's speculation  what we know is on KSV report  I never read that 

[jake12116]

I've listened to Eric Sprott quite a bit, he's not a money grubbing shark , he's a businessman , I believe he's trying to make this work out well for all involved, not you Sherry cause your not involved, learn a little about these people  before you make them out to be something there not  see what Eric does for man kind , it's a lot   

[Sherry35]

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