RE:RE:RE:RE:RE:RE:RE:RE:Finally, Feb 23rd, has come and goneI must have missed something. Since when was the $45M that GFSC invested at $8 "a loan" with payments? Clearly, I haven't been following closely enough.
mdjbrown wrote: Should get a whole lot simpler biz, once the bagage is unloaded.
by the way, you love running your mouth about the economics of the project, so please share with us how you think GSFC can possibly make the Framework deal work.
They already have a $45 million loan with another 6.67 million US payment due next month
They are including the remaining company cash in the treasury as their own, along with the money already spent on the project.
About to take on a $50 million dollar loan @ 10%
$77 million in prefered shares @ $? about to be unleashed on us
And then there is the big $612 million dollar financing.
GSFC only has a m/c of $475 million, so how do they plan on making payments that equate to more than the company earns annually?.
No revenue will come from the mine for years
This financing looks like it is built to fail,, but who cares eh biz, as I can not find anything that would hold GSFC accountable should they default, as it is all KRN assets put up for collateral.
jmo