MYG mayfield group holdings limited

I dont think that there is a loan to pay back. Way back in the...

  1. 121 Posts.
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    I dont think that there is a loan to pay back.

    Way back in the distance past, Sandstorm agreed to provide half the capitol required to build the mine conditional to MYG raising the other half through other means. The deal also provided a Hedge and a loan to keep the company going to find the other half of the money.

    After this agreement was struck the gold price crashed making it impossible to raise the other half of the capitol. When the time limit for MYG to find the money expired a new deal was negotiated. As part of this deal a bunch of new shares were created and given to Sandstorm.

    From memory these new shares were to pay back the loans as there was not other way for MYG to pay back the money without an operational mine.

    Is there a 6 million dollar debt in the last financial reports?



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$1.20
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