re: Ann: Market Update - Brazilian Debt Stand...
TPLO.....Co Cash at end of last quarter was $4.2 Mill yet debts over US$8 million plus Co still has ongoing costs. Engo" closing down, Torr" production well down, Crista questionable. Just a matter of time before Co will be forced to totally shut down IMO.
If Gold grades & resource at Crista & Torr" sites were obtainable as Co outlined in past Co announcements then one would have thought that by now the Co would have had received offers to buy them out or offers to refinance put forward to them that they could not reject. Obviously, IMO it seems that no one is interested in this dead dog.
Seems like even AGP who is a major shareholder in this Co with deep pockets is not willing to bail out this Co.
I don't know much about insolvency issues but IMO I think the Co must be getting pretty close to it.
IMO.. The Co won't relist anytime soon because I can see the S/Price being at the sub one cent level.
I also wouldn't be surprised if our overseas investors don't mount a class action against the Co, given that they not long ago participated in a C/Raising based on Co disclosures at the time. Interesting times ahead.
MUN Price at posting:
4.6¢ Sentiment: None Disclosure: Held
