GREY:SWYDF - Post by User
Comment by
pierrelebelon Sep 09, 2019 2:57pm
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Post# 30109768
RE:ownership
RE:ownership
"Did any one call the txe ?"
For what purpose?
It is pretty simple: over the years investors (shareholders like yourself) and the government of Quebec and La Caisse and other large investors invested hundreds of millions in that mine.
Over the years it turned out that it did cost more than expected and the revenues were less than expected. Some mistakes may have been made by management over the years but world prices for diamonds went down instead of up as expected in the original plans.
At the end of the day, the company owes more money than the value of its assets and cannot meet its financial obligations.
It is called bankruptcy and shareholders lose their investment. It has happened before and will happen again. Not all investments are successful.
And life does go on.