MOY 0.00% 5.1¢ millennium minerals limited

The Company as at 30 June 2019 has fully drawn down on the $15...

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    The Company as at 30 June 2019 has fully drawn down on the $15 million from the RCF and has hedged 39,000oz’s via the RMF. Both the RCF and RMF are due to expire on 30 June 2020 and repayment of the RCF is required to occur in $5 million tranches on 31 December 2019, 31 March 2020 and 30 June 2020

    So my guess is that the BOD realised they would not have the $5M to meet the first scheduled repayment. Bugger.
    Note to self - next time an Ann comes out with terms referring to mulitiple other notices, actually trawl through the other notices and look for repayment schedules & the like.
    This is a third "Winner? Nah loser" outfit I have invested in. I am simultaneously learning a lot and losing a lot (for me)
    Learnings to date: SH get nothing. Thanks for the support.
    If you do get something back it will have been raided by the administrators and "saviours" of the co.
    Your SH will be diluted to bu66ery if it ever comes back listed and somehow the people responsible will own the lot. Be grateful pleb.

    I wish I could do a sell sentiment, but too late for that now. I wish there was a "Not with a 50ft pole" sentiment.
    Commiserations to the rest of the SH. More time to focus on the remaining investments and watch for the red flags I guess.
 
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Currently unlisted public company.

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