Great Panther Mining Ltd GPLDF

OTC here we come......

[Heywood_Silvers]

OK, so if the shares are delisted from the NYSE they will likely end up trading on the OTC.  This is not necessarily the end of the world.  SVM (Silvercorp Metals) voluntarily delisted a few years ago and after a stint trading on the OTC they were relisted on the NYSE.

GPL needs to get it's financial house in order.  Hopefully this restructing will buy them time for the metal prices to catch up and allow the company to be viable as it once was.

[ikny]

down .47 in US

[ikny]

in the US the stock is worth .02 on the old shares...this bankruptcy does not mean they are out of business...its hold off action by creditors....they still have the gold, and it may be a great speculatove buy,

[Heywood_Silvers]

Agreed, as some investors may not know, there are multiple forms of bankruptcy.  The only real death knell for a company would be full liquidation or Chapter 7 bankruptcy.  Even in such a case, the assets are sold off and any remaining proceeds after paying off creditors are divvied up amongst the common shareholders. GPL is potentially undergoing a "soft Bankruptcy" or

[ikny]

Heywood,what they need is new management...i said thid 3 years ago,two years ago,and last year... there is GOLD in them thar mines......but they screw it up with injuries, cave ins,and other errors...

[SilverBells]

Thanks ikny and Heywood for your input. Worried because GPR is my secong largest holding. Had it years ago with Archer and got a 5 bagger out of it. Went back in because I thought history would repeat itself. And this gold bull is just getting started. The road is going to be long with this stock but atleast it should not fold. Fingers crossed find out on the 16th. 

[ikny]

I purchased 15,000 shares today,which is the equivalent of 159,000 old shares..cost $3000...they have gold,,,,whether they can survive is a question....if they are allowed to mine and can improve and remedy past mistakes,it will be a great investment....but the odds are great

[satchmo6]

6 cents on the OTC.....AFTER the halt or just before ---it was at 3 cents in Vancouver bc

[Stratocheif]

They have 56 million of debt. In chapt 11 ( potential restructuring), The common shares go to zero and the debt holders are issued new shares in exchange for the debt. Nothing gets distributed to common shareholders once the shares are canceled. They have total liabilities of 186 million. Do you really think the existing shareholders will get even a penny out of this in a restructuring? I've

[Heywood_Silvers]

Per the Q2 financials, they have a total of $83 million in current assets  + assets held for sale.  Compare that to a total of $99 million in current debt.  Add in the $10 million in cash from the silver and peruvian assets and there is a net deficit of about $6 million. How much out of the $99 million are trade payables and other such debt which can be restructured?  Maybe

[satchmo6]

WOW---Just found out it was halted... FOR HOW LONG