I agree that any movement on the mountain is positive. But we are coming from a very low base!
What we need to remember is that the Bank has put its US$42M on the line plus interest.
The bank wants its money back!
If the best thing for the bank is to spend $2M to get $12M back, it will do that. Looks like it has.
After two years of no activity Marion Energy was at risk of losing Clear Creek. This activity that we are seeing, I believe is little more than providing some activity to ensure the leases are kept.
So the good news is they have spent the money to ensure something is worth selling.
Marion's Assets are worth something.
The money comes from the bank trying to retain its asset value over its secured property. After the bank takes its fill what will be left?
MAE Price at posting:
0.6¢ Sentiment: Sell Disclosure: Not Held
