GREY:SGGDF - Post by User
Post by
TheKoalaon May 15, 2018 1:15pm
138 Views
Post# 28033609
Failure to Deliver
Failure to DeliverSo can anyone confirm if the below gives the lender the right to take the mine away from SGX, or if there is something preventing this (other than negotiations) which is not apparent?
Notice of Default pursuant to Section 10 of the GPA for its failure to deliver Refined Gold of approximately 123 ounces from the two most recent mill runs (“Delivery Obligations”). Subject to any applicable cure periods, CRH as a secured lender is in a position to terminate the GPA and enforce its security over the Clavos Project.
Scary stuff, glad I didn't put too much in before this news came out...
https://www.stockhouse.com/news/press-releases/2018/05/11/sage-gold-provides-bi-weekly-mcto-status-report#xydLCGHix0Uhcout.99