RE:book value
brief summary from a service I use..............................................................Fred Stanford's Torex Gold Resources Inc. (TXG), down four cents to $12.69 on 1.02 million shares, has received an extension to a waiver provided by its lenders late last year. The waiver, now extended to the end of February, lowers the company's liquidity threshold to $30-million (U.S.) from $50-million (U.S.). Mr. Stanford, the company's $537,000-per-year president and CEO, says that the extension provides an extra level of comfort to temporarily minimize any risk of covenant breach while the company works to restart its El Limon-Guajes mine in Guerrero, Mexico................................ The company said late Tuesday that it was selling 4.37 million shares at $12.60 in a bought deal financing, primarily to provide liquidity during the restart of the mine. That news sent Torex's stock down $1.38 on Wednesday, wiping out much of Monday's $2.04 gain that followed word that the Mexican government had acted to end an illegal blockade that forced the company to shut the mine last fall. Torex's stock traded above $35 in the fall of 2016