Red Lake Madsen Mine Ltd V.PGM.H

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

[Sherry35]

I just spotted my mistake before reading your post. I noticed it while playing around with a spreadsheet to see the breakeven price for making the secured and unsecured creditors whole. I incorrectly read the claim report thus doubling the number. Brain fart. My apologies for misleading the forum.

To take it one step further, a major like AngloGold will low ball it to reduce what may have been in a future buyout down the road if PGM generating a profit and LOM. Given their 9% ownership in the company, it's time to sit or get off the pot with respect to an offer. Perhaps it is a group offer involving AngloGold, Eric Sprott and Sprott Asset Mgt. I don't know.

I can't see AngloGold going higher than 10 cents on the dollar. They can use their CNIL on the common shares to offset gains in other investments. This would lower the initial outlay on the books so to speak. This would leave some money left over after making the creditors whole.

As we both agreed, this is the wild wild west with Sprott Lending II involved in the desicion making. Hell they moved fast on this. I hope the common share holders get something back but they won't be made whole.