RE:A giveaway agreement, and soon an equity raise?It is a bit of a shell game. In about 15 years of gib production, they have been cash negative.
They sold the gib silver stream for about 50 million. They sold 10% of entire corp for about 50 million. They sold 10% of flor for 135 million. I speak in cad.
They borrowed on bond an additional 135 million for flor. They borrowed another 65 million revolve.
That is 450 million on top of any gib cash. So they sold about 20% of corp and diluted more to buy ymi.
Slow but sure assets get transfered. Next is another small equity raise.
They did a large equity raise to aquire flor. That looks to be going to work. The 10% sale for 135 mil looks good. Now a small equity raise??? There goes the farm:))
nf