GREY:NWMMF - Post by User
Post by
production05on Jun 02, 2015 5:30pm
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Post# 23790954
Fyi - Update on the Jaguar/Renvest situation
Fyi - Update on the Jaguar/Renvest situationJaguar Mining now expects their financing to close on June 12th.
They now say they owe Renvest $9.4 million - to be paid back with cash from the financing (once closed).
They must have recently paid back a million dollars to Renvest, as they had previously mentioned that the balance was $10.4 million at May 4th. It seems like they have been paying back a million dollars every month or two. The balance owing was $12.4 as recently as February 27th of this year. I also think the balance owing was something like $16 million at some point last year. I think some of this cash paid back to Renvest in the last little while has been redirected to NWM Mining, in the form of demand loans. To be paid back by NWM through eventual sales tax recovery amounts.
As usual, we will have to wait and see what Renvest does with this larger extra cash amount (if anything).
https://www.marketwired.com/press-release/jaguar-mining-announces-update-on-private-placement-senior-secured-convertible-debentures-tsx-jag-2025849.htm