RE:RE:RE:RE:Sixth report to the trustee- final, dated May 12, 2015Azzenmcelbow wrote: Isn't the biggest asset by far is the gold in the ground?
Unfortunately, with the present POG and the cold content of the ore, the recent reports to the trustee by Greg Gibson bluntly show that,
even without servicing the debt related to the cost of the recent infrastructure, equipment, exploration, drilling, etc. , the gold can't be mined at a profit.
The DIP debt is, if I recall correctly, under $20 million (U.S.), and the letters of intent, according to the trustee reports, came in under that amount owed.
With deep-pocketed majors presently looking for undervalued assets, that'll give you an opinion of what other operators likely value this in-situ gold at.