Canadian Diamond Play Cafi 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 : Canadian Diamond Play Cafi

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: MadDogMike	8/18/2020 2:22:19 PM
	of 16203

MPVD Dermot saves the day again. Pecking order? US$25 million Line of Credit - first lien revolving credit agreement (now run by Bank of Dermot) US$LOTS - Debentures - senior secured second lien notes Reclamation Cash calls to De Beers as part of re-negotiated agreement 2020 -- $15 million 2021 - $10 million 2022 - $10 million 2023 - $10 million 2024 - $10 million . . . . . . . . Shareholders are way down here at the bottom rung of the ladder. Dermot buying up to US$100 million in rough stones from Gahcho Kue is a way for MPVD to get some cash flow to pay for operating costs and maybe...just maybe squeak out a profit..but the vehicle itself doesn't add value to the company...just liquidity only. It can be considered independent. The more Dermot climbs up the pecking order of the credit/debt vehicles....the less important his paper shares actually mean to him. A shareholder would actually prefer an independent bank to host the line of credit first lien. I would suspect Dermot may also own a chunk of the debentures...which again is even a worse scenario for shareholders. EKIM

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next