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Harte Gold Corp. T.HRT


Primary Symbol: HRTFF

Harte Gold Corp is engaged in the acquisition and exploration of mineral resource properties. It is focused on gold properties located in the province of Ontario, Canada. The company's exploration projects consist of sugar zone property and Stoughton Abitibi property. The Sugar Zone Property is located approximately 80 kilometers east of the Hemlo gold camp on the north shore of Lake Superior. It includes approximately 4 mining leases and 336 unpatented mining claims. In addition, it also consists of approximately 29,435 hectares within the Sault Ste. The Stoughton Abitibi property is located approximately 110 kilometers east of Timmins and 50 kilometers northeast of Kirkland Lake.


EXPM:HRTFF - Post by User

Comment by GOBOGOHon Nov 15, 2020 5:02pm
267 Views
Post# 31903747

RE:RE:RE:Posts

RE:RE:RE:PostsI ran the Q3 numbers through my little financial model as well projections going to 5,000ozs per month.   My analysis shows a reasonable cashflow and would confirm the companies assertion that it cashflow can cover operational costs.  

I also took some time and read the credit agreements put on Sedar.  A  tough read and tough agreements - 14% interest going to up to 22% if payments are missed etc.  

The news release said they will not have enough cash to retire the debt coming due in 2021.  The agreements have a clause that covers that.  For example, the debtors could convert to share at 10% or 15% discount - I don't remember the exact wording of the clauses.  

That should be around the time they are trying to sell the company.  So I expect that debtors to convert to shares.  If you going to sell(at a good price), it better to be a shareholder then debtor.

I expect that one of the major will being willing to pay well for a 60,000 oz mine and a multi-million oz resource.    I would just expect that there will be a lot more shares outstanding. 

So, there is no motivation for the major shareholder to have a robust share price.  I not saying that they would do anything to depress the share. it is just better for them to have a lower share price if they convert debt.

That being said, retail shareholders should do OK.  It looks like the majors will be gearing up for acquisitions - their resources are dwindling and they will have tonnes of cash.  It will just be a  painful wait.  I know the pain - I own a lot of GWA.

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