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Bullboard - Stock Discussion Forum Otso Gold Corp. V.OTSO

Metals & Mining Gold
Otso Gold Corp is a gold mining company. The company's only segment being acquisition and exploration of gold resource properties. Geographically, it has a presence in the Americas and Europe.

TSXV:OTSO - Post Discussion

Otso Gold Corp. > Laiva Mine Spinout - Pilar Gold to Laiva Gold
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Post by Lockstock1 on Apr 10, 2023 6:24pm

Laiva Mine Spinout - Pilar Gold to Laiva Gold

So the Laiva mine in Finland is now being spun out into a new company called Laiva Gold. Got this email from Pilar who said they're spinning out the mine to their shareholders and currently doing a seed round. They're hoping to get the plant running this summer and there's mined ore sitting there ready to be processed. Not sure how long will take to get to the full 6,000 tpd capacity.
The difference with Laiva is that they have no debt or creditors holding them back which gives them room to follow the mine plan as it was supposed to be. This has supposedly never been done due to past operator debt and creditor issues.

See link below to announcement
Pilar Gold spins out Laiva Gold to shareholders
Comment by ace3512 on Apr 29, 2023 4:53pm
alright so what does this mean for the otso shareholders? are our shares going to be changed to Pilar or Laiva? or will they be gone?
Otso Gold Corp.