GREY:NMKEF - Post by User
Comment by
rob1237on Dec 24, 2019 12:06am
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Post# 30486520
RE:Not a word for Shawinigan in last PR
RE:Not a word for Shawinigan in last PR
TeddyBear wrote: Could be by extension but could also mean scope limited to spodumene at this step, remain 187M to complete mine but 690M for Shawinigan.
MONTRAL, Dec. 23, 2019 (GLOBE NEWSWIRE) -- Nemaska Lithium Inc. (the “Corporation”) (TSX: NMX) (OTCQX: NMKEF) (Frankfurt: N0T) announced today it has obtained from the Superior Court of Qubec protection from creditors under the Companies’ Creditors Arrangement Act (“CCAA”), to enable the Corporation to finalize its financing efforts in
order to complete the construction and begin the operation of the Whabouchi project, following the previously announced cost reassessment.
The financing fell thru so they cannot raise the money needed to complete the construction hence the creditors protection. Usually thats the death nail. This is unlikely to trade again and will be delisted. Secured creditors will get whats left and maybe take this private and finance it or sell it. Common share holders get nothing. Even-if they find a white knight u will be diluted into pennies.
when they announced they were short a few hundred million dollars to finish the construction awhile back that was a major sell signal.
from there it was straight down to todays news.
nothing to debate here.