Nemaska Lithium Inc NMKEF

RE:RE:RE:What is escrow

[mick1888]

CalAB - a few years down the line (if you are still around this board) we may be heaping praise on GB for the masterstroke of achieving the initial funding deal to get this project on the move when other similar projects were falling by the wayside. Plaudits will rain down on a ceo who gained the necessary financing to get the project past the 'shovel in the ground' stage, then rowed back on the deals to reduce cost on the project, and yet still manage to get the corporation to the completion stage and in profit (BIG profit with 75% margin). Wishful thinking or premonition?
GLTA longs.... ;-)

Calgary_AB wrote: tcheck...how can you not get it...NMX already paid 40 million in bond interest for the last year on 350 million they couldn't use and now that 350 is being paid back to the holders...40 million just left nmx account with no benefit whatsoever to you the dumb shareholder...
You should have sold when I first told you but you didn't, you should have at least sole the 57th time I told you but you still didn't....ohh well you will eventually learn...

Got gold Tcheck?

Calgary_AB wrote: Tcheck, the dollars are in escrow not the bonds....the bonds have an interest while the escrow can't be withdrawn on...the interest on the bonds started Aug.30 2018 payable quorterly ... now NMX is in big trouble because they were counting on that escrow money to be released so they can pay the interests and other Guy Bourassa f.uck ups...all that money has to be refinanced just like the millions they had to pay to terminate the FMC agreament...
Guy is as dumb as they come.

From NMX NR:
As previously announced (see May 10 and 30, 2018 press releases), the Bonds are USD-denominated with a five-year term and bear interest at 11.25% per annum, payable quarterly and in arrears on the relevant interest payment day in February, May, August and November of each year, commencing on August 30, 2018. The first interest payment was made.

read here Tcheck:
https://www.nemaskalithium.com/en/investors/press-releases/2018/30bb0e65-c85b-4112-b329-f3ad92a5d586/

Tcheck wrote: Probably No interestpayments due.there is no loan because conditions for loan were not met.
money was not borrowed .me think.just kept aside.


Does an escrow account earn interest? Googled .
No, for the most part, a bank is not required to pay interest on any escrow accounts (also known as mortgage impound accounts) it holds for its customers. Indeed, the U.S. Department of Housing and Urban Development (HUD) does not specify that escrowed money be held in interest-bearing accounts.

What is Escrow?

An escrow is a financial arrangement where a third party holds and regulates payment of the funds required for two parties involved in a given transaction. It helps make transactions more secure by keeping the payment in a secure escrow account which is only released when all of the terms of an agreement are met as overseen by the escrow company.
 

Escrows are very useful in the case of a transaction where a large amount money is involved and a certain number of obligations need to be fulfilled before a payment is released like in the case of a website being built where the buyer might want confirmation of the quality of work being done before making a full payment, and the seller doesn’t want to extend a massive amount of work without any assurance that he or she will receive payment. While traditional escrow service is quite difficult and must be obtained through banks and lawyers, Escrow.com provides online escrow services at affordable rates. While the payment is 'In Escrow' the transaction can be safely carried out without risk of losing money or merchandise due to fraud. This eliminates all legal jargon and allows for secure transactions and confident buyers and sellers.

for once management is doing what it should do . Look for the best deals out there .Put their foot down and Show some backbone .i approve .i am wondering which improved rates we are going to get .time will tell.