Post by
Mininggeneral on Sep 11, 2019 1:20pm
Stornoway-bankruptcy post
pierrelebel (21) September 11, 2019 - 11:30 AM RE:Selling the mine Roberto10 - Clearly you do not understand the situation. The fact there are 926 million shares outstanding is irrelevant. It has nothing to do with reality. A company has assets and liabilities. When the liabilities exceed the assets and the company can no longer pay the interest on the debt or pay its suppliers, it files for bankruptcy This is when the receiver sells the assets (mine, equipment, etc...) and take the proceeds to partially pay the creditors. At this point the original company exists no more other than on paper. The shares have no value as nobody would buy them. Whoever buys the mine has clear and free title to it. If they make money with it, it is their money. The original shareholders (like yourself) have lost their investments and that includes La Caisse du Quebec. Now, maybe English is not your first language and you need the situation to be exlained to you in French. If so let us know.
Comment by
footloose on Sep 12, 2019 10:31am
i thought we were in bankruptcy protection,if its over why didn't they tell us instead of asking for another extension,don't we have to wait till october 11 ? thanks
Comment by
Mininggeneral on Sep 13, 2019 12:43am
Foot, Where did you see they are asking for another extension? I only see Stalking Horse, Mazen win auction.
Comment by
footloose on Sep 16, 2019 2:01pm
thanks for posting the article for the ext. i was away,its quite frustrating that we don't access to any info on what's going on but i guess we all have wait,i hope grandpa 67 is ok as its rare that we don't hear from him good luck to all