GREY:LRTNF - Post by User
Comment by
UptickHedgeon Jan 10, 2023 3:13pm
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Post# 35214108
RE:RE:RE:Northern Ontario Business
RE:RE:RE:Northern Ontario Business Generally speaking, yes. If equity is wiped out their common shares are no more valuable than anyone’s.
Unless one of them gets creative (which Eric is known to be) and finds an alternative where for example he or Anglo or both settle the debt themselves and wipe the equity which could leave them with the remaining assets or property itself... Something that would trade off the loss in equity they would take. Though in the original CCAA it stated Sprott lending and all affiliates were not pursuing the mine.
Ive followed Eric for a long time and he definitely knows the game and hates losing in scenarios like this. All of the big investors might just be ok taking the loss. They can all afford to do it. Eric mentioned it in the article from Oct – he said the bigger the better to offset his tax burden. If he was being honest, and that has not changed, then it’s between Mark and Anglo to salvage equity being the next largest shareholders. No one else who is large enough has a stake in doing so.