Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

RESERVOIR MINERALS INC V.RMC

"Reservoir Minerals Inc is engaged in the acquisition, exploration and development of mineral properties in Serbia, Cameroon, Gabon, Macedonia and Romania."


TSXV:RMC - Post by User

Comment by thorgb1on Jun 10, 2016 2:08pm
179 Views
Post# 24955499

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Nevsun Dismisses Baseless Criticisms

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Nevsun Dismisses Baseless Criticisms
psj567 wrote: Red Flags:
  1. Nevsun has no proven capability in underground mining;
  2. Nevsun's only asset is in one of the least stable mining jurisdictions in the world;
  3. Nevsun's consolidated financial statements filed on SEDAR show it is carrying as assets a $38,825,000 loan  and a $5,365,000 loan to the Eritean government, which according to the accompanying Note to the Financial Statements, appears to be several years old. Question: is the Eritrean government ever going to pay these loans back and why hasn't it paid them back yet? In other words, where has the approximate $44 million gone? This suggests, at a minimum, the instabiltiy of Nevsun's 40% minority partner in Bisha, the Eritrean government. At worse, it potentially represents something far more ominous.
RMC shareholders beware. Nevsun is acquiring RMC/Timok on the cheap and offers RMC shareholders very little in the way of proven underground mining capability. Its dealings/ relationship with the Eritrean government, based on its consolidated financial statements, raises additional questions.
<< Previous
Bullboard Posts
Next >>