Long Run Explor Ltd Ord WFREF

The Clock Is Ticking

[BlueCollar51]

“Pursuant to the Amended Investment Agreement, an information circular is required to be mailed to the holders of Long Run common shares prior to December 21, 2015 for the Long Run special meeting required to be held no later than January 22, 2016 where disinterested Long Run shareholders will vote on the Private Placement. Completion of the Private Placement is expected to occur following the receipt of regulatory and shareholder approvals and is currently expected to occur in late January 2016.”

http://web.tmxmoney.com/article.php?newsid=80477588&qm_symbol=LRE

“The revolving syndicated facility and the operating facility, which comprise the Company's borrowing base facilities, are reviewed semi-annually and terminate on May 31, 2017. The maturity dates of our $350 million non-revolving syndicated facility have been staggered to align with the Company's proposed private placement with Maple Marathon Investments Limited ("Maple Marathon") and the strategic asset rationalization process. The proceeds from the proposed private placement will be used to repay the $100 million due January 31, 2016. Long Run expects to use the proceeds from the strategic asset rationalization process to repay the $125 million due May 29, 2016. The remaining $125 million is due November 30, 2016 with the method of repayment to be determined based on 2016 market conditions. Methods could include proceeds from the exercise of warrants issued to Maple Marathon, asset dispositions and debt restructuring.”

https://web.tmxmoney.com/article.php?newsid=80937506&qm_symbol=LRE

Due to the lack of news it is beginning to look like the deal with Maple Marathon is in trouble again..

Without the $100m from the deal Long Run will not be able to meet the new Credit Facility Terms.

My SMALL position in LRE.DB is not looking good!

As Always; Do Your Own Due Diligence; It’s Your Money !!

[Reflect]

And pray ask? What news are you waiting for. The info provided is self-explanatory unless you believe you should have a special invite to the round table of decision making. Why does the LRE bullboard have to be a "Bozo" site full of Bozos with no money but bellies full of jealousy & brains of mush. Surely, there are a few more investors out there with thoughtful, meaningful dialouge

[BlueCollar51]

“Pursuant to the Amended Investment Agreement, an information circular is required to be mailed to the holders of Long Run common shares prior to December 21, 2015 for the Long Run special meeting required to be held no later than January 22, 2016 where disinterested Long Run shareholders will vote on the Private Placement. Completion of the Private Placement is expected to occur following the

[JohnJBond]

One wonders why you chose not to  include the default conditions in the event the private placement is not paid for by the buyer?  

[Iamwcw]

This post has been removed in accordance with Community Policy

[BlueCollar51]

JohnJBond wrote: One wonders why you chose not to include the default conditions in the event the private placement is not paid for by the buyer? Because due to this recent development with MIE I suspect that the odds of Long Run actually receiving any Termination Penalty’s in Cash from Maple Marathon/MIE are not good not to mention their ability to raise $100m in cash any

[JohnJBond]

Note the MIE default terms, the banks!

[BlueCollar51]

I have had a look at the revised Credit Facility terms that was posted on SEDAR on Dec.02.   I don’t have a financial background and honestly I have a very hard time properly understanding all the terms and conditions. What I get is;   The revised TOTAL is $650m There is a $100m mandatory payment due Jan 31 which will effectively reduce the TOTAL to $550m There is a $125m

[JohnJBond]

"The existing terms of the credit agreement have been amended to include events of default which relate to the time of closing of the proposed private placement with Maple Marathon."