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posiedon ark

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27/05/21

08:43

Post #: 53445182
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Originally posted by Tarampa: ↑

Apologies Mr Ark; the forum won't let me tag you properly today.

RE You said: "CHN" have borrowed...

Wait, what?... When? Maybe I missed an announcement, but our JV partner has been debt free the whole time I've known them, as far as I am aware. That was one of the biggest attractions to them in all of the business presentations and interviews that I can recall. Alex specifically mentions it on many occasions.

They also had over $140 million cash before Christmas, thanks to a CR where they had the 1st hundred mill thrown at them in only a few hours, which meant that many shareholders missed out (so existing shareholders pleaded to throw an extra 40mill at them!)

+ from memory they are still earning royalties from sales of previous projects overseas.

And this is from their most recent quarterly report:

But in any case, the longer both companies in the Joint Venture stay debt free, the more valuable they both remain.
(And also the harder Lenders will try to talk shareholders into pressuring BODs into handing over that value in exchange for debt.)

Expand

Hi Tarampa: Yes share distribution is a debt unless solely distributed to its Share holders....Adding $100 ml by way of shares, is just a form of funding, what I'm saying Is before they become a production Company they will need to borrow or release more shares.....Two ways to pay for Development or Exploration is to borrow the funds or sell shares....Luckily, we have just completed all we needed to end result 1.3 bl shares no debt and Income ready......"CHN" is at least 2 years of exploration and Development to go: PFS; Scoping Studies; BFS and more Drilling. Then Mine Building, along with Off takes etc etc.....They have about 380 mil shares and gradually climbing.

Last edited by posiedon ark: 27/05/21

VMS Price at posting: 10.0¢ Sentiment: Buy Disclosure: Held
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