OTCQX:SREMF - Post by User
Post by
Ranger56on Sep 22, 2014 6:06pm
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Post# 22960056
News just released
News just releasedhttps://www.marketwatch.com/story/rb-energy-provides-a-corporate-update-and-announces-decision-to-initiate-a-sale-process-for-aguas-blancas-2014-09-22-171733146?reflink=MW_news_stmp
Suggests value in the Iodine business so much so they are prepared to sell this business, realize the value, repair the balance sheet, and focus on the lithium business.
The also stated: "upon completion of the convertible debenture offering that the Company is currently undertaking (News Release dated September 15, 2014), the Company plans to initiate a formal process to identify opportunities to maximize value for Aguas Blancas".
This warms my heart as they imply with confidence the financing offering will close soon. I suspect their willingness to sell the iodine business is all part of the negotiation process to close the financing.
You maybe critical of the management team, but I do like the way they fight the good fight. These guys are tenacious and refuse to lose. If they do go down, they go down fighting hard.
Also if you have not read their latest September presentation on their website.. its laid out very well and very clear as to their cash flow, cap ex, debt servicing by year 2015 thru 2017. Its also breaks down in detail how they will use the proposed $88M financing.
Of course with this news release-- changes things for the better I think.