TSXV:FCO.H - Post by User
Comment by
longnose2on Oct 06, 2011 6:36pm
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Post# 19127728
RE: My suggestion of a rights offering
RE: My suggestion of a rights offeringIt will perhaps happen that way.
It will get done, as this is a first class strategic project.
It is the contention of others that Pala Investments and Coalcore ( now MLR ) will now step into the breach to provide additional financing.
Pala and Coalcore provided Formation with debenture funding in 2010.
Pala owns about 45 % of MLR which itself has over $22 million in cash.
It recently overhauled its BOD to include more of Pala's guns and has since stated that it is about to invest in a potential advanced project.
Pala is Swiss based, lots of cash, and is using MLR as one of its investments arms.
Check out their recent news releases and you might arrive at the same conclusion.