GREY:MLGAF - Post by User
Comment by
velkyon Oct 22, 2013 11:45am
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Post# 21837388
RE:RE:Proposal To Creditors of Malaga Inc.
RE:RE:Proposal To Creditors of Malaga Inc.
There would be no point to incurring the expense of listing on the TSX again. Shareholders cannot get anything until the creditors are made whole, which is supposed to take a miniumum of 3 years in this case.
From the proposal there would be about $532,000 for shareholders in 3 years. Plus the payment of a permanent royalty. Let's say it's 2% on annual tungsten sales of $20 million (2011 figure). That would be $400,000 / year or $0.002 per share every year which is optimistic.
It also states these payments will be guaranteed by certain subsidiary assets and bear interest at 8% so there should be some money for shareholders some day but not much. Don't hold your breath.