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SFEG - Not much detail...

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MeToo

7,639 Posts.

483

30/06/16

11:04

Post #: 18158727
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Originally posted by MeToo ↑

Hi vincerli, someone effectively asked why some think this doesn't look good for IGS (or their shareholders?)

IGS had $31K cash at 31-Dec-2015

I wonder if they have managed to get the $212K refundable WG deposit back, from memory the auditor cast doubt on it's recoverability!

Santa Fe was meant to be sorted in May or mid June?
(Expecting $400k out of $4M as unsecured creditor, hmmmm?)

Suspended in March 2016 for not supplying the Dec-2015 six monthly.
-IGS envisaged to supply in early April, still nothing.

Expired WD deadline. (4 weeks ago)

No ann. on anything and he wonders why some think this doesn't look good (for shareholders) I am sure note holders will manage to recover their funds if "the powers to be" can recap. this (as mentioned in the last please explain) and draw from any possible future funds from any new shareholders or maybe new notes to repay old notes and their interest?

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SFEG - Not much detail

http://m.nasdaq.com/article/santa-fe-gold-emerges-from-chapter-11-bankruptcy-20160628-00436

IGS Price at posting: 0.3¢ Sentiment: None Disclosure: Not Held
2 Upvote

0 Great analysis

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