OTCQX:CGTFF - Post by User
Comment by
ukermannon Mar 25, 2017 12:51pm
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Post# 26030501
RE:Moriarty onto Something?
RE:Moriarty onto Something?123: I think your points on the Nord debt are 100% on target. They're committed to their Project Gross, which is well underway and will need approx $250 million to complete. They're currently carrying $861 million in debt, which I'm not sure includes the above. They do have projects already going on in Africa, where in the region's they're in there's lots of opportunities to consolidate some high grade discoveries. So maybe as attractive as FG is, they have better use for any cash they can raise thru a sale of their share of FG. Their biggest complaint in taking themselves private is that the market is not valuing them fairly as a public company. So by reorganizing their financials while they still are growing their production they can re-emerge as a much stronger entity, thus ready to join the more senior producers in the business. And to think they can get there in part because they took a chance on a project in French Guiana for about $35 million, is a big feather in their hat.