GREY:GPLDF - Post by User
Comment by
Heywood_Silverson Jul 24, 2023 6:12pm
322 Views
Post# 35555001
RE:RE:RE:RE:the end?
RE:RE:RE:RE:the end?I contacted the court handling the receivership for GPL and things have been happening in the background. There is no guarantee that everything will work out, however, the possibility that either GPL exits restructuring (CCAA proceedings) or the court is successful in finding a buyer for the assets certainly exists.
Worst case scenario is that a gold mine with 1 million ounces (probably more) is sold to the highest bidder. How much will that net if we are in an environment (post-BRICs) where gold is well above $2,500? The mine and equipment are worth MUCH more than the amount owed to Asahi (primary creditor).
It would be utterly foolish to sell now when at most you'll get a penny per share. Here is what the court sent me if one cares to read up:
https://www.alvarezandmarsal.com/sites/default/files/canada/GPML%20-%20Filed%20First%20Report%20of%20the%20Proposal%20Trustee.pdf