Otso Gold Corp. V.OTSO

Deloitte document

[bijls004]

‘28. Because there was no feasibility study in place by October 2021, Otso gold struggled to secure debt financing from banks. Otso Gold entered into negotiations with Swiss branch of Sberbank and another Russian bank, VTB; however, the discussions were hindered in part by Lionsbridge’s repeated failure or refusal to attend conference calls with Sberbank and CSA representatives and financing could not be obtained prior to the due date of Pandion’s loans.’
*I’ve taken this from the document: VLC-S2110503 Petition.pdf (deloitte.ca)

[KultaKaivos]

#bijls004, Thanks for the extra details!

[bijls004]

You're welcome KultaKaivos. The whole document is basically a transcription of the full history of events from 2019 onwards. Interesting read. I think they will obtain debt financing of around 40 maybe 50 million. Pay off Pandion and other creditors. Get a better - permanent - management. Get in critical spare parts for continuity of the mining process. Then it's up to Otso to make it

[QuantumPhysics]

well today as we speak the number 1 priority should be throw Pandion debt into the courts importantly in Finland as it is OY where the source of the debt lies. Let the lawyers have a field day on this. Post doing that, bring board and management focus onto A. Business B. Correct discovery of valuation = Delisting from TSXV structure and fresh listing on the Main list of a liquid exchange.

[KultaKaivos]

bijls004, I have the same hopes and wishes. A competent and permanent management is crucial along with the critical spare parts and of course the debt financing along with paying of the creditors, etc. The storyline is actually very well worked out from my own knowledge of events. The document contains public details that the authorities and police here refused to divulge so it was great to see

[QuantumPhysics]

Beautiful info. Well done. And thanks. The banks mentioned are huge frontline russian banks and there is no doubt in my mind that Brusnwick team has a fantastic reach and network into these banks. Brunswick team professional credentials are impeccable. I see that Brunswick team competencies revolve around management turnwarounds of which financial and business understanding is key. They lack

[5ilverlining808]

The third is "avariciousness", greed for gain regardless of the pain they cause along the way. I remember at the start of the set up of the Westech International web site and the start of the Fiji Emperor Gold Mine take over. His main investor was a rich man that told him to "never use your own money to start or run a project". He was on speaker phone and all of us 5 people