Resource Capital Gold Corp GDPEF

RE:RE:RE:RE:RE:RE:RE:RE:*****RCG NEW CEO*****DUSTIN ANGELO*****

[kenmar]

 Don't think a big loan is coming. Sprott may be a billionaire who invests with his and others money, but a billion is only 50 times 20 million. How much has been sunk into RCG so far, and what return has it provided? But I could be wrong.
That being said, if Sprott were to foreclose, what would it cost him and his company? He could have done this at any point in the last 6 months! I'm talking the carrying costs of the mine with all the reclamation expenses and other liabilities. If they flipped it to another company, what would the closing costs be? We know it cost close to 2 million in legal fees for RCG to get that loan to payoff the Dufferin mine and mill from Sprott. And what would the sales pitch be like to a prospective buyer? "I'm a billionaire who gave money and placed my guy with lots of experience in mining companies (Gibson) , and we failed in our efforts to make it go. But I bet you will be successful!." 

They obviously need fresh minds on this project. Getting another company to take over and start paying off the loan would be the smartest play. Let them take on the risks and liabilities. If they make it work, everybody wins. If they can't, Sprott gets the mine and mill back plus some payments on the loan.