OTCPK:GDMRF - Post by User
Comment by
oldvsetraderon Feb 13, 2019 10:07pm
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Post# 29361973
RE:RE:RE:RE:Lawsuits have started
RE:RE:RE:RE:Lawsuits have startedThe numbered company is T-drilling out of Ontario. T did all the drilling for GOM. This is a brand new lawsuit filed in supreme court on Feb 12, 2019. T-drilling made a deal with GOM and took a reduced amount as a prom. note, which is the amount of the lawsuit. This will not help XIM in any way, as it just comolicates the situation. RIVI is owed almost $6 million now and they have a first security over the Lexington and Crown. Total liabilities are over $10 million which XIM would have to deal with. As well, there is about $1 million in flow through that was not used for exploration but admin instead. This was to be expended for exploration prior to Dec 2018. So now CRA will revert all the tax benefits that the shareholders have claimed. There will be some very unhappy people getting re-assessments and have to pay all the back tax. So the Crown/Lex will be gone as RIVI will use its first charge to get the assets. That leaves the mill and all the other property to cover the other debts.