OTCQX:SREMF - Post by User
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Oregonduckon Mar 29, 2015 2:01pm
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Post# 23574579
RE:RE:RE:Hum
RE:RE:RE:HumLadyJane6 wrote: IronBowl wrote: Brolija,
I don't understand why you and others are thrilled at the prospect of liquidating the assets of RB Energy. Even if they would get all those millions of US dollars in return for the sales and clear up their debt, what would be in those deals for the shareholders ?
We want the company to restart production and start selling, we want a long term resurrection.
Agreed.
And what's more, I don't understand why people keep musing about Clark screwing us over. Clark IS ONE OF US ... he is a major shareholder with over 3.4 million shares according to an October 2014 Financial Post article. If we go down, he goes down. With that much skin in the game, he's going to fight to the death to keep this thing going and maximize shareholder value.
I disagree. Lukas Lundin has the wherewithal to inject another $50 million of new capital into RBI to stave off bankruptcy, and yet, he let the Company goes into creditors' protection. Why ?? The clear answer is that RBI's business plan is not viable - high costs and over-stated resource estimates. Canada Lithium was never able to get the Lithium business off the ground despite pouring over $200 million into the black hole sucking up shareholders' money. Don't forget, it was Richard Clark that pulled the plug on this critical care company at ICU and left it for dead in creditors' hand. No company has come out of any CCAA proceedings alive.