GREY:GYPHQ - Post by User
Comment by
red911on Feb 21, 2013 7:24pm
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Post# 21025879
RE: RE: RE: Some questions answered
RE: RE: RE: Some questions answered A lot of things that have been said have not been what has happened. I heard JTO say no equity on the call but since then two posters here have stated in conversations with JTO he has said equity. So which is it? Fact is this $5.6M is currently due July 31 and they will need to amend the agreement or raise additional funds to pay it as we have been told production proceeds will not be sufficient. Again, so which is it? Maybe they amend the due date? We all know how expensive that has been to do in the past with WGV as our 'partner'. If they don't amend due date they only have 2 options... debt or equity. We also know how expensive 'debt' can be from our 'partner' WGV. Equity issuance at these prices would be as dilutive as the recent JV, on top of losing the 60%. So which is it?
What I find MOST INTERESTING is that on the call and in the last post re: conversation with JTO we are hearing talk of re-woked mine plan and VOILA... they think they can produce "much higher" than the 30K oz Au per year rate JTO has desperately been trying to achieve over the past year! Amazing folks these Waterton people must be! GGN spends a year building infrastructure to the point they cannot pay debt agreements they signed only to JV 60% of the property to WGV and literally overnight are talking of exceeding the previously communicated expectations. All this while denying (in previous calls) knowing where the 43K oz Au per year rate that was in previous GGN corporate presentations came from! Amazing!