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Bullboard - Stock Discussion Forum Global Cobalt Corp GLBCF

Global Cobalt Corp is an exploration stage company. Its projects are Altai Sister Properties, and The Iron Creek Cobalt-Copper Project.

Bullboard (GREY:GLBCF)

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Comment by Winwarrioron Apr 08, 2016 1:26pm

RE:RE:RE:RE:RE:Pafra Enterprises Company

Odd that IMHL negotiated a deal with GCO that allowed GCO to escape the $4million it owed IMHL by taking the NA properties that are valued currently at $2.5 million so that IMHL could increase its ...more  
Comment by steamerlaneon Apr 08, 2016 1:04pm

RE:RE:RE:RE:Pafra Enterprises Company

Here it is......RuMetall Insolvency The Karakul Cobalt Project includes a subsoil licence issued to AltaiRudaMetall LLP (“RuMetall”), which permits exploration and extraction of copper-cobalt ore on ...more  
Comment by steamerlaneon Apr 08, 2016 12:03pm

RE:RE:Pafra Enterprises Company

I did some research into the past agreements between ARM and GCO.GCO acknowledges that if liquidation occurs,they will lose rights to own the Karakul project/mine.When I get the time I will find and ...more  
Comment by DRYOASISon Apr 08, 2016 10:18am

RE:Pafra Enterprises Company

In my opinion I think what is happening is " the right to acquire " as been given to GCO in the past and that cannot be taken away, simply because of all the parties involved. If GCO was ...more  
Post by Winwarrioron Apr 08, 2016 8:20am

Pafra Enterprises Company

I am curious if anyone knows if this subsidiary of IMHL is still in the picture? Looking back at 2010 doc's it seemed that GCO was purchasing or getting the rights to assests PEC had with Karakul. ...more  
Comment by Winwarrioron Apr 06, 2016 6:43pm

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:The bankruptcy trustee altairudametall

Does this not also suggest that IP might not then get what is fully owed to them if a 3rd party buys these shares and tells IP and whoever is owed money to pound salt? I really cannot see either IMHL ...more  
Comment by steamerlaneon Apr 06, 2016 5:59pm

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:The bankruptcy trustee altairudametall

It leaves GCO without  rights to/earned interest in the Karakul mineYou would think that IMHL or GCO would buy the shares,it is to their benefit.Problem,what are Russian bankruptcy laws,in a ...more  
Comment by DRYOASISon Apr 06, 2016 5:32pm

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:The bankruptcy trustee altairudametall

So lets see if I can get it right this time, IP gave a loan to ARM so if ARM goes bankrupt then IP becomes a creditor. The mining licence for Karakul is owned by ARM so if the mining licence gets ...more  
Comment by Winwarrioron Apr 06, 2016 4:59pm

RE:RE:RE:RE:RE:RE:RE:RE:RE:The bankruptcy trustee altairudametall

I would add for clarification that GCO's agreement is with IMHL
Comment by Winwarrioron Apr 06, 2016 4:48pm

RE:RE:RE:RE:RE:RE:RE:RE:The bankruptcy trustee altairudametall

but we should all keep in mind . . . "ARM is a wholly owned subsidiary of IMHL, Global Cobalt’s largest shareholder." IMHL has about 30 million of GCO's 100 million+ outstandinng shares. ...more  
Comment by steamerlaneon Apr 06, 2016 4:32pm

RE:RE:RE:RE:RE:RE:RE:The bankruptcy trustee altairudametall

GCO has an agreement  with ARM,and that is,ARM allows GCO to buy into the Karakul mine,because ARM has the license for the mine,Soooo if ARM is liquidated, the rights GCO has,according to the ...more  
Comment by rocket500on Apr 06, 2016 4:08pm

RE:RE:RE:RE:RE:RE:The bankruptcy trustee altairudametall

I think you might have part of that wrong - ARM is a subsidiary of IMHL and the interest free loan was borrowed from Invest Project. If ARM goes down, that would probably not be a good thing. Who ...more  
Comment by DRYOASISon Apr 06, 2016 3:13pm

RE:RE:RE:RE:RE:The bankruptcy trustee altairudametall

Yep that sounds about right, we know IMHL and ARM were in negotiations over Karakul so the point I was trying to make is why pay full price when you know that you can get it for less if you wait them ...more  
Comment by rocket500on Apr 06, 2016 2:41pm

RE:RE:RE:RE:The bankruptcy trustee altairudametall

Not sure what the 8 million number is all about but if the trustee is trying to sell for 289.3M rubles, and the conversion is ~ 58 rubles/per CDN dollar, AND there are ~ 105M o/s shares, then he's ...more  
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