02-23-2019, 08:23 AM
'Monk3' pid='82764' datel Wrote:LOL. Yes SS, before any chapter 11 we have our traditional Maple Syrup Pouring Ceremony along with the much anticipated beaver tail paddling. These things take time! But come on, it's worth it to see all the exec's lined up covered in sticky goo while getting their butts whacked for their financial floundering. Surely, you must have some US equivalent! This tidbit (Canadian: timbit) of news looks pretty straightforwardish to me. They are restructuring. They have successfully filed for creditor protection (read: this is what they have been busy with for the last month or two and couldn't tell us about). They are selling assets to raise capital so that they can continue to function and not have to rely solely on the secured loan facility. That's probably what Al Barwani Jr. and (where'd Usmanov's pitbull go?...DSMF) want instead of having to go to perspective papa's to ask for more money every month. What is twisting my noodle is, what are these assets?! Polymetallic nodule business unit and its seafloor massive sulfide business unit? Where have these business units been all my life!!! Isn't the 'SMS unit' Nautilus? If it is a portion the are selling then fantastic, we are rolling. If it is all of it then... unsmiley face. What is worry me is not seeing 'Trade Resumption'. Better be freakin' resump'd Monday. As for PPS guess? It is a tough one since they haven't disclosed their critical path for the restructure. What would happen to McDonald's if they sold off their "restaurant" unit? So with the ambiguities of "evaluating a RANGE of alternatives" and "sales of non revenue generating business units". I dunno... flat? There has been a big invisible thumb keeping this stock at 5 cents (CDN) for a while now. I don't like that. What happened to Horn's incredibly jackpot backed directive to find a suitor?
They have significant polymetallic nodule holdings in the Clarion Clipperton Zone, most of which have had at least initial exploration (mapping). The SMS holdings include deposits in Vanuatu and Tonga. I would be ok with liquidating some of these to get capital for Solwara 1.