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4:30 pm Lake Share Gold extends maturity of standby line of credit and reduces debt levels (LSG) : Co announced that it has entered into a modification agreement with its secured lender, Sprott Resource Lending Partnership, in order to extend the maturity of the Company's standby line of credit. Under terms of the Modification Agreement, the Company will repay the Standby Line through 18 equal monthly payments of outstanding principal plus accrued interest starting on June 30, 2015 with the final monthly payment due on November 30, 2016. Previously, the Standby Line was due in full on January 1, 2015.
The Company also announced today that it has elected to repay $5 million of the Standby Line before the end of December, reducing the principal balance to $30 million. For the full year, debt repayments in 2013 will total approximately $20 million, with the other $15 million of repayments related to the Company's gold-linked note, also with Sprott.
Sentiment: Strong Buy
Yes, I think the revision helped, let's you know a little of what's going on. After this little run do you think we will see next week back around .37 or .38, would be good time to load up again. Fed. Reserve meeting is next week, how much of an impact on pps will be?
I guess I should have said shorts are getting hammered now.... Nice revised guidance.... Gold won't go much lower than 1100 if that and tis the season for it to reverse trend... There will be some major unwinding.... JMP is long also....
So, am I closer being just $0.09 from my target or are you closer being $0.012? I'm in the lead and have from 18 - 48 days to reach my target of $0,27.
Did you mean .38/.39? I say going lower in the short term, next 30-60days. I will hold off until around $0.27 or until I see strong reversal in gold prices.
Looks like the shorts are taking it in the shorts today. Good 3q and bright future will likely scare many of them away. The rumors that they would go out of business proved to be over done since gold would need to go under 1k for at least a year to have any real effect on Lakeshore.