GREY:COLUF - Post by User
Comment by
naeden99on Feb 15, 2014 7:35pm
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Post# 22214709
RE:RE:RE:This article convinced me to stick with CSI - big Mistake!
RE:RE:RE:This article convinced me to stick with CSI - big Mistake!Speculation:
1) He tried, but part of his deal was that sandstorm and the notes take a large haircut. They may have refused.
2) He realized it would be cheaper to buy out of bankruptcy and wipe out all the equity. (He owned less than 20%, so for every dollar he saved of his equity, he'd be paying 4x that much to save other people's equity).
It is also possible he decided that the mine was too risky to put any more money into.