RE: Digging out of the graveThe note holders will force the company into bankruptcy by enforcing a consent judgment against gran colombia. Everything you see in the news release is for show - due diligence.
They go to bankruptcy court and sell off the assets.
Note holders in priority get paid off.
What is likely to happen is the bond holders, through some offshore company buy the assets and take over the company for almost nothing (unless a bidding war ensues) and shareholders and non secured bond holders get nothing.
SilverKing88 wrote: Its to early for a funeral..... If it was over Management would have went straight to a Bankruptcy attorney not to a finance company and mine optimization outfit. Segovia is a clear High Grade winner that us shareholders still own. The note holders are in the drivers seat but if they let the company go belly up they lose everything that has been built so far. It is in everyone's best interest to work together and make sure Gran Columbia comes out of this in one piece shareholders intact. This is a steal here and now. Even Calandra didn't sell his shares yet. Not one gold company was planning on a prolong downturn in the gold price for more then 3 three years...most management of various gold companies has been reworked.... Its not impossible to think that Gran Columbia can pull it off. The multi millions in vat taxes due back to gran Columbia. The note holders will make more money When Gran Columbia Digs themselves out of this finance mess . The equity in the company will be worth far more then the interest in the notes. This stock is literally almost sold out. Any good news and I mean any will send these shares up just as fast as they came down. The volume the last few days has been paltry to the downside. Shareholders are staying put for now. Management is not ready for a funeral. They are going to dig out 10,000 oz a month into a finally rising gold price.