Century Mining Corporation 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 : Century Mining Corporation

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: David who wrote (507)	9/18/2008 12:54:06 AM
From: hubris33	of 545

Take a good look at the details of that loan. $3.5 million loan cost them nearly $1 Million up front. However, most of that is in shares - 15 MM to be exact, which could put a considerable cap on the SP until these are sold off. I wonder what SP the lender will choose as a "line in the sand"? Then look at the Junk Bond like interest rate, add in the various fees, premiums et al and what is the true effective rate for this loan? If memory serves there is something about convertibility of the loan to shares with price protection. Sounds like more price capping shares - especially with a 9.9% ownership limit. At these rates Fortis will end up owning 80% of CMM when all is said and done. 300,000 to 500,000 shares is not out of the question unless CMM reorganizes and does a reverse split. Still looks plenty risky to me. But hey WDIK? H3

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next