OTCPK:MEAOD - Post by User
Post by
JRaffleson Dec 16, 2012 10:52am
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Post# 20736730
Chairman's generosity to his company
Chairman's generosity to his company NSGold (NSX.V) announced yesterday they entered into a loan agreement with Van Hoof Industrial Holdings (VHIH), the investment vehicle of chairman Hans Van Hoof.
VHIH offered a loan facility up to C$500,000 bearing an interest rate of 6% when drawn upon, and NSGold pledged its 1.876M shares of NSX Silver (NSY.V) as collateral.
We consider this to be a fair deal as the proposed 6% interest rate is extremely low for a non-producing exploration company, and the posted collateral is only a fraction of the maximum amount the company can borrow.