Post by
ICNick on May 14, 2024 2:07pm
Nickel 28 has a new office address
Interesting to see on Nickel 28 updated website that they now have a new address and third party handling...... I am not sure what. The address is now Nickel 28 Capital Corp. Ltd. c/o McCarthy Ttreault LLP, Toronto. On the web site, you will also notice a new Corporate Presentation with new dates for debt reimbursement, etc. It smells like something serious will take place. Will they go after the three muskeeteers? Changes with the company such as liquidation, mergers? Anyone wish to speculate?
Comment by
Michiel on May 16, 2024 3:00am
Also something new in their presentation: On page 06: Debt repayment plan: "debt refinancing is possible given Ramu's Cash Flow Profile". Something is changing. Will they fully repay the debt this year? I guess Yes
Comment by
Talchior on May 16, 2024 10:59am
Refinancing the debt isn't something so undangerous. The current debt is not with a temporary timing. If you skip some years, of course, interest will run but there is no issue. In case of refinancing, if there is a big issue (earthquake for example), we could be out of business.
Comment by
ICNick on May 16, 2024 11:42am
In simple terms, could one assume that to refinance an approximate amount of $47m we would need to pay an additional $5m a year in interests. We would gain an additional 2.74% ownership. Based on 30,000/year of nickel, at $6/pound net, additional revenues would more than $10M per year. re. Earthquake or similar, debt or no debt we would be out of business anyway.
Comment by
Michiel on May 16, 2024 12:13pm
They only nerd 37mio, they already have 10mio of cash. Why would they be out of business???
Comment by
ICNick on May 16, 2024 12:59pm
Yes, if everything goes to plan they will have around $37M to pay....assuming the $10M is there to be applied against the debt and no other things such as dividends or share buy-back. regarding the "out of business" comment it was for an event like earthquake. In this case, there is no more business....debt paid or unpaid because the mine is shut for months and maybe for good.
Comment by
Talchior on May 17, 2024 12:05am
The current debt has no time constraint. You can skip the payment till the rebuilt of the mine in case of earthquake and continue to pay after. If there is a refinancing, note sure if this kind of condition would stay be present.