Global Cobalt Corp GLBCF

Pafra Enterprises Company

[Winwarrior]

I am curious if anyone knows if this subsidiary of IMHL is still in the picture? Looking back at 2010 doc's it seemed that GCO was purchasing or getting the rights to assests PEC had with Karakul. SO with that being said how does ARM fit into all of this or is PEC and ARM the same?

[DRYOASIS]

In my opinion I think what is happening is " the right to acquire " as been given to GCO in the past and that cannot be taken away, simply because of all the parties involved. If GCO was stripped of its right to acquire Karakul, I think there would be numerous law suits by all the parties involved who have invested in the project. So, the way I understand it, ARM's portion of

[steamerlane]

I did some research into the past agreements between ARM and GCO.GCO acknowledges that if liquidation occurs,they will lose rights to own the Karakul project/mine.When I get the time I will find and post  a link to the information.

[DRYOASIS]

Please do.

[steamerlane]

Here it is......RuMetall Insolvency The Karakul Cobalt Project includes a subsoil licence issued to AltaiRudaMetall LLP (“RuMetall”), which permits exploration and extraction of copper-cobalt ore on the property. RuMetall is an indirect, whollyowned subsidiary of IMHL. On November 29, 2011, insolvency proceedings (the “2011 Insolvency Proceedings”) were commenced against RuMetall in the

[Winwarrior]

Odd that IMHL negotiated a deal with GCO that allowed GCO to escape the $4million it owed IMHL by taking the NA properties that are valued currently at $2.5 million so that IMHL could increase its ownership of GCO from 25% to 61% for a property that it could lose its "GCO" rights to if ARM was to be liquidated. Now perhaps IMHL thought that GCO could successfully sue for much more and

[steamerlane]

Here is what doesn't quite add up,GCO loses the earn in rights because of liquidation,GCO says it may need to sue IMHL  for failure to keep the license,yet now IMHL is GCO since IMHL owns 62% of the shares.So how does a company sue themselves???This may get to be very interesting yet.

[Winwarrior]

That iis what I was getting at. GCO is effectively IMHL. I suspect with IMHL owning 60% of the shares that is why they have been in no rush to address why the company is not trading on the market. They must have know that once news got out of a liquidation the stock would really drop and that would just make GCO look bad. They also must have known when negotiating the deal with Erin and crew when

[DRYOASIS]

So at this point, could IMHL just buy the mining rights privately and simply delist GCO ?

[steamerlane]

No,if they did, that would make their shares worthless.

[bobodolen]

When do you shareholders of global energy metals find out when you can trade your shares and is there a symbol at present

[Winwarrior]

 . . . .  and if your IMHL with 60 million shares is your bet this: If we IMHL can get control of the rights and deal with the $8m debt does this immediately become a 0.10 stock? If so that would mean total capitalization of $11 million for GCO. I doubt few here think that this is a .10 stock if GCO gets their rights to the property. I would hazard that most of us think that this is a

[DRYOASIS]

Yes it would, but at the same time IMHL would now own 100% of the mining rights under IMHL, not GCO. The point is, why share with the rest of the shareholders if you don't have to .... and what could anyone really do about it ?

[Winwarrior]

SFA

[DRYOASIS]

You mean ..." Success For All "... I hope ... lol

[Winwarrior]

haha, I think I was going with the other one based on how you presented your argument. But I will take success for all

[bud13]

well guys! I have half a mil shares in each company now, to much to lose and not a game to some , my thoughts on this is maybe the Chinese will back the cash in the end in some way so this project will continue on as they probably don't want this project to fade away or loose there invested time. Hopefully!

[Winwarrior]

Bud13, I hate to say it but I I have 750,000 million of each and currently neither are trading and if you listen to some it might be that for GCO they will never trade . . . . ouch . . .  and then for GEMC they need to get some property together in order to start trading at a price that does not have more than one zero right after the decimal. Interesting all of this

[steamerlane]

You are overloking something,they can't just decide to "delist",they would to have that approved according to the company by-laws.Mosr likely that would involve a majority shareholder approval,then if that was done,you face lawsuits from unhappy shareholders,who also lost all there shares,but voted against the issue.I would IMHL intentions would be obvious after they took over the

[Winwarrior]

A conversation with EBRD would be most interesting for IMHL to have if they were thinking of going a little rogue. I have been trying to figure out how many shares they have in GCO. Any idea at your end. If there are 100million outstanding and IMHL has 60 million of these what would the EBRD number be and do any of these other parties you list above own shares?