Harte Gold Corp. 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.

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Harte Gold Corp. > What is the pecking order!

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Comment by cynic7206on Oct 11, 2021 9:39am

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Post# 33994783

RE:RE:RE:What is the pecking order!

My thoughts are the odds of creditors driving this into bankruptcy are remote. The value of mine and property significantly exceeds the value of the total debt. As now that is about $117m in loans and $26 million in financial derivaties.

They are in a the middle of a sale. If the sale happens all the loans would likely to converted to stock due ot the change of control clause. That is the bad part for the retail investor.

Currently there are about 1.046 billion shares O/S. Converting the $117 million in loans at current market prices would generate around another 2.1 billion for a total of around 3.2 billion shares. I am assuming the $26 million gold loan does not convert to shares and that obiligation is picked up by a buyer.

With 3.2 billion shares outstanding - a final selling price per share will be less then I had hoped earlier. But the longer this drags on the more shares that will generated. Interest onthe loans would be around $1.8 million a month.

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