RE:RE:RE:RE:Can't wait for those financials!
thtruthhurts wrote: The market has the company valued just above $50 000 now.
The last release stated that we had $9.9 million in cash as of Dec.31.
Plus we have a couple more oz of gold at Pointe Rousse.
So the market is valuing Goldboro, Pointe Rousse, and any and all assets of Signal at about $40.
Just say that Pointe Rousse is worth $15 million of that to someone.
Then Goldboro and any other assets the market is valuing around $25 millon.
We owe the bank over $20 million. Without the Pointe Rousse property as collateral they are getting dangerously close to having less in collateral than what they are owed.
They want to minimize risk. It was a very high risk loan without the collateral, and that is why everything had to be signed over as collateral.
I still think the bank is entitled to that money from Pointe Rousse. Otherwise it would not have been needed to be added as collateral.
Obviously you don't understand how a BUSINESS LOAN works if you keep bringing up the question of the eventual sale of Point Rousse and comparing that to the sale of a house or cottage.
Let's say Point Rousse sells for $15M. Do you think the lender will be unhappy to see SGNL get that money to help pay the bills. The Point Rousse assets will simply have been exchanged for an equivalent value in cash, that is still icluded as collateral. There is no increase in the risk for the lender and they have no reason to ask for the proceeds of the sale.