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First Nickel Inc. FNKLF

"First Nickel Inc was incorporated as 2035666 Ontario Inc., under the laws of the Province of Ontario on November 12, 2003. The Company is a Canadian mining company focused on becoming a mid-tier base metal producer through the successful mining, exploration, development and acquisition of opportunities throughout North America."


GREY:FNKLF - Post by User

Post by mcuglyon Jun 25, 2015 9:13am
350 Views
Post# 23867060

Closure

ClosureYou would think that if one of their options is closing the mine, then another one should be the sale of the mine. Closing the mine would make the shares worthless including the 1 billion + held by Resource Capital and West Face Capital. If someone with deep pockets was interested they could buy the mine for 3-4 cents/share (approx $40-$50 million) and put it on care and maintenance until the inevitable recovery of nickel prices. The major shareholders would get the $28 million owed to them and still pocket some cash. If the mine closes they get the salvage value of the company.  JMHO

McUgly
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