GREY:RNKLF - Post by User
Post by
arh0070on Jun 11, 2019 9:11am
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Post# 29814685
Higginsville/financing
Higginsville/financingDetails provided today .Another 50 million plus shares issued ,borrowed 35million at 10% for a year including 10 million more to fund operations .It indeed was fortunate that last week they found more gold (value)worth 2 million which pushed the value of the company up about 60 million.Pretty obvious the share price rise will be a short term spike .Probably offered an oppurtunity for someone to sell 10 million shares into the market for a better price .Selby is to be admired for his ability to obtain financing to develope the beta hunt .
So now we are left with a company with 35 million in debt due in a year ,600million shares or so outstanding and a 7% royalty on gold production .They are going to have to find a lot of high grade gold to keep the hamster running around the wheel faster and faster .