Sunshine Mining at Rock bottom? Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Sunshine Mining at Rock bottom?

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Claude Cormier who wrote (145)	8/13/1999 4:29:00 PM
From: baystock	Read Replies (1) of 167

Hello CC, <<There is no indication to what happen to the $26M convertible. But the change in working capital from +$9.7M to -$15.7M seems to indicate that they redeem it.>> I believe this working capital change simply reflects the reclassification of this $26M convertible from long term debt to short term debt since its maturity is now less than 1 year. What I am looking to find out is how SSC plans to pay this convertible off. Can they force it to be converted into 3 million shares at $8 per share or do they need to take out a new loan to pay it off. Obviously the answer to this question will shed a lot of light on SSC's true financial condition since the latter option would be extremely difficult in the current market environment for PM stocks. <<For a 100M+ ounces silver deposit I much prefer Corner Bay, a Toronto junior who is developing its low cost silver play in Sonora, Mexico>> Sounds promising, I'll take a look.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next