Harte Gold Corp. HRTFF

What is the pecking order!

[goldnorth]

May God forbid, but should this go bust, who is first in line,   BNP, Appian, are there more????

[Homestone]

That would be absolutely the worst outcome Goldnorth but it is doubtful that the lights would go out and a lock put on the gate.Care and maintenance would be very expensive and would have to be done.There is no way around that.You can't just walk away from something like this for environmental reasons.I have absolutely no idea which way this is going but IMO I doubt it will actually go

[goldnorth]

Thanks Homestone for your insight, I just hope we are not in forbearance forever, lived that once with another company and the outcome was not good. My feeling is that we might have a run on volume today as next week might be th week! Have a great weekend!

[cynic7206]

My thoughts are the odds of creditors driving this into bankruptcy are remote.   The value of mine and property significantly exceeds the value of the total debt.   As now that is about $117m in loans and $26 million in financial derivaties. They are in a the middle of a sale.  If the sale happens all the loans would likely to converted to stock due ot the change of

[Homestone]

They are in the middle of a sale you say.That could be true however in the next sentence you say "if the sale happens" It's true that the company MAY be in the process of changing hands but from my understanding different options were being looked at.Which will it be?Nothing is written in stone yet.

[MudCreeker]

I only see two realistic options:  1) a sale or 2) bankruptcy.  The third option would be finding some money without a sale (i.e. a loan).  I don't think it's realistic to expect anyone other than BNPP or Appian to loan them anything, and I think those two have made it pretty clear they're not coming to the "rescue" this time. The pecking order goes 1) BNPP, 2

[Homestone]

Good post mudcreeker,well said.Which option will present itself is the big question.Hope for the best,prepare for the worst.

[Fredfudpucker00]

I can see Appian taking their royalty and off take agreements to make a deal with Nomad Royalty in some form. This would give Appian a reason to get rid of their shares at a lower price , and move on which I think they want to do.  I remember Brookfield taking almost 25% less than retail shareholders when North American Palladium was sold. This was because they had already made lots of money

[Specific]

My 2 cents worth is that next Monday sp will close at 2 cents. I hope I'm wrong!

[MudCreeker]

Here's something to watch for, when the announcement comes:  Sometimes, bad news for the shareholders is good news for the company, but the market misunderstands, and the immediate reaction in share price is positive.  That can give an opportunity to a nimble share holder.  I once worked for a company that went through "restructuring" - in that case it was creditor

[cynic7206]

Homestead, Regardless of a sale or other options - the retail investor is out of luck, except for those with a very low average cost - that is my point.

[Homestone]

Hard to argue with that cynic, unless a way is found out of this mess and it stays Harte Gold.Too bad really because future projections were 100 million in free cash per year in three years time.Not to mention exploration potential on the huge land package.Sad if it goes for next to nothing.