Post by
Heywood_Silvers on May 10, 2023 5:22pm
Running the numbers here....
GPL's last financials (updated through 6/30/322) showed equity (i. e. net worth) of about $75 million.
Let's assume half of that as sellers may only get 50 cents on the dollar via a bankruptcy sale, leaving about $35 million. How much will the bankruptcy trustees charge? Legal fees usually amount to about 1/3rd of net proceeds. That leaves about 24 million to be divvied up between 47 million shares or about 50 cents a share.
This is sorta of my semi-optimistic forecast for us shareholders. If gold explodes prior to any sale we could easily fare better. At this point, I'd be happy to get back about half of my investment as my basis is 95 cents a share.
If memory serves, I did vote against the Beadall merger years ago and I wish more would've voted it down as the company's fortunes went nowhere but south after that boondoggle of an acquisition.
Comment by
ikny on May 25, 2023 7:12pm
What do you think the possibility of the co. restart mining....There is gold in them thar hills.
Comment by
Heywood_Silvers on May 31, 2023 11:41pm
The company will only restart mining after a court-structured buyout/sale of assets. Are there any majors out there with South American assets? Now could be a good time to take advantage of the blue light special.