Harte Gold Corp. T.HRT

Primary Symbol: HRTFF

Metals & Mining Gold

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

Harte Gold Corp.

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Post by kitsune1on Jul 21, 2021 3:00pm

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Post# 33582397

History of this BNP loan

Remember the beginning of this financing a year ago -- June 2019? A $97 M loan drawdown from BNP generated nearly zero million in real cash. 64M went to Sprott and 30 M to Appian as repayment + penalty, 2 M went in fees paid to middlemen leaving almost nothing. Or -ve, if exchange loss is incuded. The refinancing also meant 10M in loss for loan termination. Sure, the terms with Sprott were terrible but I wonder whether they really gained anything by the refinancing. It was forced by Appian on the previous management.

We only know some terms of the loan -- we dont know what are the detailed covenants in the contract with the creditors.

I have not been impressed by the financial decisions or financial management of the previous team nor this one.

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