GREY:MLKKF - Post by User
Comment by
jims101on Mar 05, 2009 3:37pm
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Post# 15823755
RE: buying back debt & phase 2..
RE: buying back debt & phase 2..If they could buy back the debt for 55 cents on the dollar, they'd still owe that somebody who lent them the money to do the deep discount buying, or that somebody would have a stake in the company further diluting common share holders.....that might be better than the alternative.
I would have to go back and through information available at the time of the last offering with respect to phase 2 but for some reason I thought the money being raised was going to get that increased production up and running. It was my calculation and subsequent conclusion, seemingly done and reached by others, that the company could make it through the slim margins provided by $1.50 copper and $8-9 Moly prices with VOLUME...that additional coming from phase 2.
I am surprised also that one investor would have been provided such material information on a site visit...Maybe its all public record already....
Sorry to say, but barring a miracle, I'd have to say the common shares of this once bright hope will be toast...
Lesson: respect the charts, not your heart.
So sad so many deserving people got caught in this spiral . . .it happened so fast ..