All smoke screen, mate. Anyone can talk up any project with +-50%. The management just want to have a break from the disaster move on BCD. I am surprised the MAK share is still relative strong. MAK's shareholders are very kind.
But I bet $8.5m is sinking in a big big shaft. Cannot be recouped. Wishful thinking about $8.5m bought a gold mine. As secured creditor, the best you can get is $8.5m. Of course, the least is zero. You can bring BCD down, but you cannot get any money! Too many holes, remember, it is a underground mine! I can imaging that BCD's management is transferring any available money, gold bars, and any valuable assets to some favourite parties (other friendly creditors) like crazy, and buy themselves a job or two in case BCD go under. What friends for? But one thing is for sure, MD is not one of them!
If MD is smart enough, he should seek court order to frozen BCD's account and asset until $8.5m is paid back. Otherwise, you won't see a cent by 15th Nov.
Why I know this? I have been through the bankrupt process. I was paid all outstanding expense claims many times over, ordered to take home anything valuable from office by my seniors just on the eve of bankruptcy. I was told it could be my last pay-check if I could sell them on eBay. It is just like day-light robbery.
Simple rule, never touch a troubled gold mine! I have a long list for it.
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