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5.9¢ galena mining limited

So Toho just donated another $25M to a lost cause.

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PhillW

2,918 Posts.

1005

01/05/24

17:19

Post #: 73614044
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Originally posted by sell30APRat142: ↑

Actually, on further thought I suspect a prepayment needed to be made by Toho to engage the administrators. Cash balance would likely have been close to zero in the weeks leading up and no insolvency firm in their right mind is going to take on a client that they can't recoup their fees from. They would've needed time know that there was sufficient realisable value from the assets to be liquidated before agreeing to act and the cash would've been the assurance of fee recoupment while they work out a likely recoverable value.

Would love to see the bank statement in the last 2 weeks of March...

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So Toho just donated another $25M to a lost cause.

G1A Price at posting: 5.9¢ Sentiment: None Disclosure: Not Held
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