RE:RE:RE:RE:late springIn 2015 FT defaulted on the Lascaux loan, 9 months after the ink had dried. FT had pledged NICO and Arctos as collateral back stopping the Lascaux loan which carried a 15% interest burden. By some miracle Lascaux reliquished their claim on those 2 assets when FT defaulted, notwithstanding that even in a fire sale of NICO and Arctos, Lascaux could easily have recovered their money. Instead it took back the Revenue-Veriginius mine, invested another 10 million over three years and then did a roll over of the R-V mine into Aurcana in return for 75% of the issued Aurcana OTC traded shares. Since the R-V mine roll over, Lascaux's share position has been massively diluted. Lascaux's utter folly, and dare I say incomprehensible idiocy, has actually demonstrated to be a greater act of incompetence than when FT & Procon lavishly funded the down payment for the R-V mine in 2014 without first checking if the R-V mine's undergroundmill was operational. A mill that may or may not have had some measure of photoshop applied.
Can you see it now?