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Nord Sincere heading to...

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robbo24

10,873 Posts.

1746

19/08/19

21:57

Post #: 40047016
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Originally posted by Haplo: ↑

Good post 777. I agree with this for the most part. I'm beginning to believe this has been a bit more orchestrated than I initially thought.

There was that massive selldown from 20c that took us below 10c. Then the debt/cash on hand requirements became an issue from Tribeca and the strategic review was kicked off because of it. I'm wondering if management knew something was afoot.

By the way - The Nord Sincere appears to be moving or at least being moved - so if that 11K shipment, if ours, means more cash on the books.

With cash on hand possibly no longer became an issue, Tribeca (or part consortium) took the opportunity with the new mining proposal to bring the default letter into play.

There is certainly still real risk here of them being able to appoint an administrator. Although I might add that an appointed administrator may pursue the option of simply paying of Tribeca their owed amount and place the mine on C&M - then reopen the company as an explorer as some here have already suggested.

Burwell in TH doesn't seem like a coincidence either with all what's going on.

All the best to shareholders with what happens next.

Haplo

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Nord Sincere heading to Zhoushan.

https://www.vesselfinder.com/vessels/NORD-SINCERE-IMO-9544384-MMSI-356747000

A40 Price at posting: 8.2¢ Sentiment: Buy Disclosure: Held
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