pastafagoli’s details
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Uh, the trustee is appointed and works for and is paid by the creditors. Marret will use CCAA and not bankrupcy since their debt is secured. CCAA will allow them to cancel the expensive port lease they do not need and pile it into a restructuri... |
6/17/2013 2:40:10 PM |
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Bond - What you are hoping for here. Its all over. Any rebuilding will be post bankrupcy and not accrue to the shareholders. There is no equity value and they owe marret like 75 million with fees and interest. I have worked on several bankrup... |
6/17/2013 12:23:20 PM |
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If you are referring to the 70,000 tonnes Marret was securing it as collateral and probably shipping it to a secure locate or to a buyer. Shareholder's do not own it anymore. When you default on secured debt, the assets you pledge as collat... |
6/17/2013 12:01:32 PM |
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What is left to do? Marret valued the company so low that it blew up in their face. If I were them I would sell the 70,000 tonnes at whatever price, sell the shiny new continuous miners and other assets, delist and lay everyone one off but hold... |
6/13/2013 3:38:44 PM |
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Bond see 2nd to lasts paragrah in the prelim prospectus om pg iii - Subject to certain terms, ... the Standby purchasers have agreed to purcahse at the subscription price all of the common shares not otherwise purchased by sahreholders ..... WHo ... |
5/13/2013 3:47:31 PM |
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The only benefit of buying now is getting in at 2.5 cents. However, its likely you will lose all your money again. I think its better to just wait and see. You can always buy in later. The standby purchasers will be dumping their 2 billion sh... |
5/13/2013 10:39:24 AM |
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The use of the proceeds (net is 33.5) is clearly laid out on pg 24. Care and Maintenance 14.4M Development 1.8M Head office (bates) $0.8M Current Liabilities 5.5M Interest on bonds 10.8M There will be no funds left for start up and marketing ... |
4/29/2013 2:48:37 PM |
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Bond My copy from Sedar has no dates filled in for the deadline. How dod you know its 3 months to exercise the rights? |
4/29/2013 9:49:21 AM |
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Been following this company for awhile. Everything's based on high demand and the world running out of lithium, oil, met coal, copper, zinc, iron ore (insert whatever you want) because of growth in china / india. Without the mass needs for ... |
4/19/2013 9:03:36 AM |
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Marret lent Cline 50M plus new bonds plus lots of fees. 35M will only pay off some debt. I assume the last traunche of the 25M will still be debt if Cline receives the 35M. |
2/28/2013 2:08:02 PM |
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