RE: News... found this on the NGG board...what is the name of this comedy....? Oliver Hardy and Stan Laurel? They said, they will rise 20Mio$ for COY, they have got 8 and from that, 2 Mio$ by dilluting Vangold? Anybody already has asked the question, why COY is down nearly 40% since the gp. Who is selling? I really expect the worst for PK!
https://beta.stockhouse.com/Bullboards/MessageDetail.aspx?s=&t=&m=20360122&l=0&pd=0&r=0
This money wasborrowed to buy shares in CopperMoly(COY.AX). CopperMoly was spun offby NGG. They did an IPO to raise cash so they can start drilling ontheir copper and molybdenum properties. With the soft market they werenot going to raise enough cash so NGG stepped in with $2M to give themenough cash to get started. NGG ended up with more shares of COY andnow owns 34M shares or nearly 50%. NGG will pay back the $2M borrowednext year out of cash flow from Sinivit. In the long run NGG will own abigger chunk of COY and if it is sucessful they will benefit.