Signal Gold Inc T.SGNL

Answer For Someone About Credit Facility vs Assets

[DoumDiDoum]

Someone has posted:

It is a very low risk financing for Nebari.

Does this mean we just signed the whole company and all it's assets as collateral for a $16 million dollar loan?

To be paid by development  (maybe not the right word) financing?  Fall of 2023?

But it's for 2 years with the company option to extend it for another year?  Those conditions cost extra.  Why pay extra if we are actually going to get the financing in the fall?

They have point rousse as collateral.  So if and when we sell Pointe Rousse, do we have to give them the proceeds?

I asked earlier, but instead of an answer got taught a lesson in etiquette.

Just curious.

Do they have the whole company as collateral?

I'm no accountant BUT simple logic tells me that if they sell Point Rousse, it means they will get money, right? They could use this money as a pledge (money is a LOT BETTER THAN ASSETS) OR they will no longer needs the credit facility. As simple as that.

Again, this person asks questions to seed doubts... still a trick you can find in the Basher's Handbook.

This person is also asking others to do due diligence for him/her, asking questions all the time. But he/she does not answer questions asked by others. For example, I've been asking this peron a couple of times now what were the names written on his list of pumpers... still waiting for the answer.