Fortune Minerals Ltd T.FT

August 12

[hounddog69]

A little over a week until debt is due. Thoughts on what happens if they default on the loan?

[MelodicHysteria]

Technically, nothing could theoretically happen but also everything could happen. There are some things to consider/ can be done: Is it secured debt vs unsecured? The loan provider can extend the loan The loan provider can go after assets used to secure (court) Limits future borrowing (credit rating) or my personal favourite The loan issuer does nothing and keeps the

[parahyangam]

Does anybody actually think POSCO is going to allow Fortune to go T*TS UP?  Does anybody NOT realize the 12.5 debt has NOT been rationalized after 7 yrs for a reason? How many mining juniors in Canada have ever raised 300 million dollars? SUMMARY: WTF are these guys waiting for? It sure ain't about 40 thousand lousy tons of cobalt.

[red]

I guess anything is possible but I like to focus on what happens when the solution to the debt is resolved coupled with the other money we need to advance up the L curve.  we have a 5 billion$$ deposit in never before seen times of demand and a raft of other positives that lead me to believe the issue of some refinancing is a small problem.  more the question in my mind is when they

[Wallyneptune]

Hounddog don't shoot me Im just the messenger Lascaux already has a buyer lined up if you want my humble opinion I think we should  have a blow your brains out party.Wally By Golly

[Jim1712]

Hey Wally.  Has the Nico assets been secured against the  Lascoux debt ?   Asking for a friend.  Jim 

[hounddog69]

Did some digging, looks like the debt is unsecured.

[red]

And likley the only ones who do that are ones with a high degree of confidence of the inevitable development of Nico, which is now very likely as we are past the storm door and on the threshold to step inside. Does RG have the key to unlock? 

[Jim1712]

Correct.  Some on this board would have you believe  it is.  For reasons that escape me   Jim   

[Wallyneptune]

You tell me JIM your Robins little bedpan jockey

[Jim1712]

Well Waldo. Looks like someone has done some digging.  For you .   Not security for the large loan   Jim   I

[Wallyneptune]

Jim I will always be your friend thats one thing you can always count on. Its nice to have the old Jim back it means alot to me.I hope the summer has been enjoyable for you & the family Wally

[sirfartalot]

All in my humble opinion So the party by "default" is at Wally's (Gilligan's) Island ? BYOB - bring your own boat event ? The options give me hope that common sense will apply at some point. Good luck to all longs, We wait  ... as August 12th is only a few more sleeps. Wallyneptune (63) User Actions   August 03, 2022 - 08:39 PM 69