Adanac Molybdenum Corporation AUAYF

RE: Bridge Financing blocks takeover?

[grumpymonkey007]

"That is why the Bridge Financing was not good. Low share price...Yes. Could be attractive. But, now it comes with a huge debt with onerous conditions."

nonsense

huge debt? Huge debt with respect to what? There's still another 1/2B required to put the mine into production and an uncertain environmental certification timeframe. Financing was required to continue to fund long lead item acquisitions, pay liens etc.

keep things in perspective - with a market cap of around 70MM another 80MM in debt - someone could take the project over for about 200MM. Then they just need to come up with the extra 500MM to get it across the line...