EXPM:HRTFF - Post by User
Post by
arh0070on Nov 28, 2021 3:20pm
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Post# 34173862
Ngd
NgdNgd bought Harte shares at 15 cents ,now they are 2 cents ,so thier investment has gone from 25 million down to around 3 million .To put in more money is just throwing good money after bad .
Given all the struggles NGD have had with Rainey river I would doubt that they. Would have the ability to buy Harte ,pay off the debt to Appian and SVL and bring the mine up to snuff.
Appian would appear to be a predatory financier asking something like 14% interest on thier debt .
Appian just has a small royalty on the mine worth 2 million or so .
Quite apparent that a lot of none sense is written on this bb .
How this will play out remains to be seen ,SVL is quite clearly in the drivers seat ,they have the senior debt and can call it ,Harte would then have to find a way to pay off the 50 million or so .If you read the Harte website they make it quite clear that they are at risk of not being able to continue to operate .
SVL would appear to be in a win win situation since they had the money to buy out the debt ,as far as I know ,no other entity stepped up to do this .How much of a discount they got is unknown .
It seems quite obvious that Harte shareholders will be left with nothing .Who ends up controlling the mine remains to be determined ,SVL has the cash and controls the senior debt so my bets on them .time will tell .