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20.5¢ wiluna mining corporation limited.

The best result would actually be1) Mercuria happy to convert...

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Hiddenvalue

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17/09/22

19:14

Post #: 63755400
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Originally posted by Chrometophobia: ↑

Depends what you call debt, there's no way someone buying will pay all creditors out in full, or even to agree to in the future. I've researched these things too many times and the secured creditor may get paid (often doesn't), other creditors may get something (depending on the outcome of secured creditor) and finally the poor shareholders, they only get out with anything if the two prior get what they want and even then, it would be minimal (as Drugo said, 5c to the $1 would be an amazing result).

The best way I can see forward for shareholders (only ones that participated in the last CR) would be legal action as to me it seemed totally wrong. The comment on the other thread about creditors being paid is a bit irrelevant, a fair chunk of the raising with creitors wasn't cash, it was suppliers taking shares instead of leaving an accounts payable amount, in essence, they've (mostly Byrnecut), in a super short time, reduced their claim of debt and moved it to shares, i.e. down a level.

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The best result would actually be
1) Mercuria happy to convert debt to equity
or
2) A cashed up oversees producer buying 50% of the company in exchange for a large amount of cash to go at this project with current backers.

WMC Price at posting: 20.5¢ Sentiment: Hold Disclosure: Held
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