Three Valley Copper Corp V.TVC.H

RE:TVC, is expected to continue even if a liquidation of MTV

[jetfuel10X]

As I know working capital is net capital

Excluding the MTV Segment, the Company had working capital of $7.3 million as at December 31, 2021. 

jetfuel10X wrote: At December 31, 2021, the Company had a consolidated working capital deficiency of $59.1 million. Included in this working capital deficiency is cash of $13.7 million, restricted cash of $0.6 million, trade and other receivables of $1.7 million, current inventories of $16.7 million, prepaids and other current assets of $1.5 million, and portfolio investments of $2.1 million. Liabilities included in the working capital deficiency include accounts payable and accrued liabilities of $18.2 million, deferred revenue of $2.9 million and MTV's current portion of loans and borrowings of $74.3 million. Excluding the MTV Segment, the Company had working capital of $7.3 million as at December 31, 2021. 

The Lenders, together with the Company, expressed their intention to provide $11 million of super senior secured funds to MTV, the approvals for and terms of which are being finalized. If approvals from the respective parties are not obtained and funding not provided, it is expected that MTV will not have sufficient funds to operate through May 2022. This could force a liquidation event of MTV. The public company, TVC, is expected to continue as a going concern even if a liquidation event occurs at MTV. To date, neither approvals nor any of the $11 million has been received by MTV. In addition to the $11 million super senior secured funds, the Company estimates that MTV will require at least an additional $10 million of capital during 2022.