Red Lake Madsen Mine Ltd V.PGM.H

RE:RE:RE:RE:RE:RE:RE:RE:My thoughts on what's going on...

[Sherry35]

UptickHedge - As you so astutely pointed out, "The CCAA documents (along with the price) suggest there is not a lot of interest in buying this company". Also, the CCAA documents indicate the assets are to be sold and the proceeds to be spread across creditors who FILED CLAIMS. This is the current plan of record approved by the courts. Nobody wants to buy the $140M debt of PGM. I wouldn't - they can declare a tax loss.

Just on the slight chance there is money left over, the common share holders may receive some money. This has to be presented to the judge in the end for approval. So, is there a CCA filed document stating this claim?

Given the dcoumented fact the monitor chooses to consult with Sprott Lending Corp (SLC), and SLC is funding the expenses of CCAA in the form of a loan, SLC is going to get paid out first before anyone else. This prescedence is defined in the Canada Bankruptcy and Insolvency Act. Something I'm familar with in working on a Bill with Senator Art Eglington to have disabled employees made secured creditors.

The only common share holders making money are the ones in at 1.5 cents. They are getting 33% return on the 2 cent sales.