re: Ann: Alcyone Invests In Black Mountain Re...
Wham bam. Another 10% of the company's shares issued. We're up to 6.8B now rounded to the nearest 100M.
200M issued 'in relation to defaults under various agreements'
Red lights flashing there. These predatory lenders show no mercy for defaults. $200k/$400k worth of shares depending on the tick of the day is getting off lightly.
Default on Platinum and they foreclose. That's why they owned the Red Arrow mine before they palmed it over to us.
I hope the default was 'planned' in that the management made a considered decision that the penalty was less pain than the original condition they were bound to (whatever that was, would love some more details here....) rather than inability to (presumably) pay.
As for loaning money to Black Rock, this story is starting to look like a "Yes Minister" script. "Now, about this money from Platinum we borrowed. How much interest are we paying on that?" "9% sir." "And what are we doing with it again?" "Lending it to Black Rock, sir." "At what interest rate?" "12% sir." "Excellent. Carry on".
A bit of a ramble there. Merry Christmas all.
AYN Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held
