Originally posted by SoConfused
Not really liking that the company is not providing update on the funds from POSCO. Not liking it at all!!!
This is only in my opinion, not offered or to be taken as financial advice, DYOR
Get a grip mate.............
- Project financing substantially de-risked
following execution of transfers of the northern tenement package to POSCOfor US$280 million.
Galaxy recently announced that the final tenement transfer deeds in relation to the sale of the northern
tenement package at Salar delHombre Muerto have been executed with POSCO. Registration of the Catamarca tenement transfers was
completed on December 28.Registration of the Salta tenement transfers has not been finalized yet due to a significant backload of transfers in the Salta court and asingle judge available. T
he Salta court is now closed for the entire month of January 2019, so February 2019 is the earliest that registrationof the Salta tenement transfers can complete. The registration process is a formality but is the final condition to release the considerationof US$280 million (less withholding tax of approximately US$8 million). In the meantime the Company is earning interest on the fundscurrently sitting in the Company’s HSBC escrow account.
Seriously, this rubbish of lack of communication is getting really old. If people are selling based on the pure filth written on HC deserve to miss out on the next run up. Worse still you will be crystalising an artificial loss.
DYOR.
For god sake.... This forum is a joke
