Gold and Silver Juniors, Mid-tiers and Producers Message Board

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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: Claude Cormier who wrote (63057)	1/24/2009 9:32:54 PM
From: tyc:>	Read Replies (1) of 78421

>>Well then it is TRX negative balance sheet that hurts Is this an assumption ... a rationalisation to support a denial of a black swan ? TRX has no debt, although it has available the 40M bank credit guaranteed by Goldcorp. Incidentally, what happens if this falls into default ? My reading suggests that Goldcorp's remedy would be the exercise of its option to acquire a working interest in MtM. TRX is trading below book value; shareholder's equity is 165.7M while fully diluted market cap is ~60M. (And the book value includes a $40M future tax liability that will be reduced if tax rates are lowered). Moreover, when Goldcorp exercises its option to acquire a 60% interest Mt M., the market cap of TRX at current market prices would be reduced significantly

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