GREY:FNKLF - Post by User
Post by
mcuglyon Jun 25, 2015 9:13am
348 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