Post by
1student on Aug 29, 2024 2:49pm
No Summer Drilling Program at LDI
Waiting for the fall (and the even farther share price fall) in order to drill a couple of exploratory holes at LDI.
That preliminary work and merely suggesting the LDI mine life could "potentially" be extended, even the 400,000.00 from the government of Quebec, does nothing in the way of necessarily proving up this year what is merely a preliminary mineralization estimate.
Does "Creditors In Possession" ring a bell for you now.
It's the death knell for Northern Graphite Corporation people; and just in time for the annual tax loss selling season to begin in earnest.
Perhaps representatives of "Sprott", NGC's primary creditor, would simply have a deal set up for the stakeholders of that other graphite company, a U.S. situated graphite bearing lands development company which "Sprott" holds a quite large investment in.
It wouldn't be the first time senior secured creditors initially suggested they'd be able to work something out with the company having violated the terms of the very debt covenants in question and not serviced the owed debt interest payments; and then, abruptly demand payment in an acceptable form.
There is a good chance NGC.V shares are heading much lower people.