Victory Nickel/ Q&A with Lee according to the Asset Purchase Agreement with Victory Nickel Silver Elephant agreed to issue to Victory Nickel C$2,000,000 in Silver Elephant common shares, upon the price of nickel exceeding US$10 per pound for 30 consecutive business days, occurring before December 31, 2023.
On February 23, 2022 the Victory Nickel issued the Bonus Share Notice to Silver Elephant Mining Corp and has been expecting to receive 1,267,145 ELEF shares and 45,392 shares of Flying Nickel Mining Corp. once final regulatory approvals are received.
Lee: Those shares have been issued.
Are all those ELEF shares ( @ $1,57) transferred to the Victory Nickel already? If not yet, when do you expect the transaction.
Since Victory Nickel is in serious financial troubles (same as ELEF) at the same time being the biggest ELEF (5% share) shareholder now, how do you want to prevent a possible dumping all those shares onto the open market by Victory Nickel including its creditors.
Assuming zero trading liquidity now hading over of 1.267.145 shares could take ages.
Lee: Victory creditors are not calling on the debts. They don't have to sell unless they want to.
Victory Nickel filed a proposal to satifsfy creditors claim on debt.
[url=https://money.tmx.com/en/quote/NI:APH/news/9006843763105443/Victory_Nickel_Inc_Files_Debt_Restructuring_Proposal]https://money.tmx.com/en/quote/NI:APH/news/9006843763105443/Victory_Nickel_Inc_Files_Debt_Restructuring_Proposal[/url]
I don't believe either Victory Nickel or its creditos would sell 1,267,145 shares at the current level ...,that they have received at 1,57cad
This issue ist not solved yet.
[url=https://money.tmx.com/en/quote/NI:APH/news/5040189629049547/Victory_Nickel_Inc_Restructuring_Proposal_Update]https://money.tmx.com/en/quote/NI:APH/news/5040189629049547/Victory_Nickel_Inc_Restructuring_Proposal_Update[/url]
The interesting fact is that the main creditor of Victory Nickel is the Chinese Nickel manufacturer ( Jilin Jien Nickel)
[url=https://www.miningweekly.com/article/victory-nickel-announces-chinese-strategic-investor-2009-08-04/rep_id:3650]https://www.miningweekly.com/article/victory-nickel-announces-chinese-strategic-investor-2009-08-04/rep_id:3650[/url]
Conclusion: 0,50 seems to be a bottom