Red Lake Madsen Mine Ltd V.PGM.H

Primary Symbol: LRTNF

Metals & Mining Gold

Pure Gold Mining Inc is a gold mining company, located in the heart of Red Lake, Ontario, Canada. Its vision is pure and simple, to build a profitable, multi-generational growth company in the world-class gold mining district of Red Lake. With 100%-owned, fully constructed operating PureGold Mine, a multi-million-ounce gold endowment, and significant exploration upside, the company's value-maximizing strategy is to pursue operational excellence, while investing in systematic exploration and phased expansions to fuel discovery and growth for the future.

GREY:LRTNF - Post by User

Red Lake Madsen Mine Ltd > Sprott Confirmation on asset sales etc.

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Comment by Sherry35on Jan 08, 2023 3:12pm

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Post# 35209863

RE:RE:RE:RE:Sprott Confirmation on asset sales etc.

UptickHedge - Well said "But it's against all odds when one looks at precedent in CCAA to be too hopeful for common shareholders. This one might be different a bit but maybe not.. Time will tell I guess." However, this would mean the estate would need more than $280M (secured and unsecrued claims combiuned) for common share holders to particpate in the distribution. Those two classes of claims are registered with the estate.

I still stress that PGM common shareholders should contact FSV for clarification on the distribution on the proceeds from PGM asset sales. It's a few minutes out your day to understand the outcome of the estate distribution.

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