OTCQX:BGMZF - Post by User
Comment by
ovison Nov 15, 2012 2:55pm
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Post# 20606180
RE: RE: Debenture Security Agreement & BCSC...
RE: RE: Debenture Security Agreement & BCSC... thasis, your concerns are right on. What will the security be against the loan? The details will be interesting reading.
Independent of what happens with PG technical report, I am sure that FC does not want ot lose control of the extensive land position held by BGM. It just make senses. The land is the man's life work. He needs that land. So if BGM is going to be in trouble then I'm sure he want to have future options open...
So the details will make for interesting reading...
On the topic of fairness, I expect the interest rate is fair enough given the risks involved in the situation. Of course putting CM up as collateral would take the sting out of any risk, even if the Snowden numbers came back at less than 1M oz inferred. Just saying...