RE:RE:RE:RE:Private Placement Mining - it's simple is WHY goes bust Big Mountain ( Marascos private co ) has first charge over the asset . Trouble is he still would have no money to develop the asset and as a private company he would have no chance of raising any whatsoever. The whole reason the company went public in the first place was so he could raise money from the market. He has shown that he has not really able to do this to any great extent so as a private concern he would have no chance.
The other issue is just What is the " asset " anyway ? This simply seems to be the mineral rights on the property. Remember the company does not own the land. It would appear that these mineral rights expire in 2023 if you read the PEA this is what it says -I can't find anything out there which says these have been extended.
The company's year-end figures are due and are almost definitely going to be completely dire.