OTCPK:LGCUD - Post by User
Comment by
benandemmibooon Sep 19, 2015 3:42pm
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Post# 24118921
RE:shares outstanding fully diluted
RE:shares outstanding fully dilutedDebt payments start in 2018, and if they make those payments in shares, then they'll have about 800 million (with about 700 million held by insiders). Right now, there's less than 300 million.
A significant amount of warrants are priced at 12.5 cents, so they'll likely be exercised before 2016; the remaining shares likely will never see light of day, as the miner is seemingly just performing due diligence before a sale to one of the companies who made offers (that were contingent upon results from the upcoming prefeasability, etc).
For them to actually be around in 2017 to re-launch Aurizona, then I think the results from the next few months will be disappointing -- yet it's hard to worry about the geology in Brazil too much, and they wisely seem to have taken the advice of Brazilian officials and keep their permits in good status (rather than getting themselves in the position where they need to reapply for any).