Harte Gold Corp. HRTFF

RE:RE:RE:Appian lost

[petersburggray]

I studied HRT and followed company for few years but never pulled trigger on opening a long position so i am glad to say i didnt lose on this one but market has schooled me in hard knocks elsewhere over time so i am not gloating and do feel for all HRT shareholders that lost money right before the holiday. Blowups like HRT are educational and interesting to study because what you can learn as an investor will help you cut market losses in future. I doubt there will be other bidders in BK since French, Aussies, and Appian who are the creditors have already made a deal among themselves of how to divide the carcass. In any event the French gold stream make mine uneconomic except if face amount of existing debt written down to pennies. Silverlake doing DIP financing. No doubt BNP sold senior tranch to Silverlake for pennies on dollar with agreement that BNP get paid its gold. Mine surely need lots of cash for exploration, catching up on sustaining capex, equipment fleet etc. Silverlake got $321mm cash burning hole inpocket so has financial wherewithal to stomach the shirt term losses from ramping mine and paying off the money losing French in gold stream.