GREY:CUDBF - Post by User
Post by
kha341on Oct 08, 2014 11:37am
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Post# 23010061
The Purse Strings
The Purse StringsOct 7 an outside date. Remember that?
Again this is a clear proof that KMDC doesn't hold the purse strings. KMDC CEO is committed to the deal but he doesn't hold the purse strings and the $500K + $500K + $100K are all KMDC and friends can afford to pay while waiting for the approval of the deal by the Korean Financial party. POP has no choice but to give them another delay unless the company wants to start the costly legal proceeding right away.
Anyway POP did right by completing the $3.2M placement so the drilling can start without delay. It's the drill results that will help determining the intrinsic value of POP. However at the end of the day, today's NR is a negative blow to the Korean credibility and thus the chances of it to be perceived as positive are slim imho.
The PP at 25 cts being completed as announced by POP so would IIROC still allow PP #1 to stay open at 25 cts specifically for KMDC or would they demand a new PP with a new price?