The Status of the Genorah loan is it hasnt been repaid, been waiting for the Appendix 3Y for the past month or so. As to their strategic path sideways or even backwards is anybody's guess.
Question, can Gleneagles recoup their money by transfering the Genorah shares off market while is a trading halt or suspension? If they can I guess its plausible that they could sell the 50 to 60% holding they have right now to an interested party for as little as $2.8 million. Fair market value cant be argued if they cant sell them on market plus Gleneagles required all those shares to cover the $3 million dollar position in the first place.
NKP Price at posting:
7.4¢ Sentiment: None Disclosure: Held
