Post by
nozzpack on Jun 28, 2024 7:30am
HD Financing
As publicly declared , plenty of interested parties.
A combination of about 7 public companies and investment houses hold shares in Maritime.
Both national and international .
The largest is Dundee which holds 20% of the shares...so they will be sensitive to equity dilution unless they fund the HD costs.
Its diffucult to know who or whom will be selected .
However, NFG has no alternative milling option until it builds its own mine at Queensway....and that will take years and billions of money funded largely by equity dilution and debt.
So, it makes sense that those who own large positions in NFG....Sprott and PALI..will dominant the source and type of funding , as continued equity dilution of NFG to build a mine......already reduced nearly 65% in share price since its equity funded drilling began in 2021.....will devastate their investment in NFG even further, in the absence of interim cash flows from trial mining of its high grade shallow open pit discoveries .
Let there be no doubt that NFG will use that tolling MOU.
As to the amount, I have heard everything from $16 million to $45 million .
The type of financing will probably be dependant on the amount.
...convertible or straight debt, streaming arrangement , FTs, commons, or a straight takeover by NFG much as they are now doing with LAB.
A long shot would be Bellevue Gold of which Firefky is their start up.
As I have already explained, the marriage of Firefky and Maritime makes as much economic sense if not more than NFG and Maritime.
I know it's difficult to have the patience to wait for the payoff.
Patience has made me wealthy time and time again .....recently GAU and LGC among others
GLTA