Both the bonds and the common are now in the life boat because of the new piece of paper to be...this is now aGiant Hail Mary for all except the new debt...why soo hard to understand..? Weird..its eco 101
You really have no idea what your talking about...Answer why someone would illegally short with no borrow when a cheap borrow is available...? You have never made any sense and at least your consistant
Board is working for the creditors, not the shareholders. They have filed for chapter 11 and fiduciary responsibility has now shifted to the debt. The common under any possible scenario is a doughnut. There will be no shareholder creditor committee its so far under water that one will not be allowed. If you want to play, buy the 25c first lien debt or 2c juniors. The rest pay it no mind.
I'm glad everyone read it..... I'd say at $1500 gold its back in production at 1175 I just don't see it..
You guys are clueless morons..sorry...but cmon already the writing is on the wall,, this is a hail Mary beyond all Hail Mary's...Crazy insanity you guys..buy the debt and double your money if you are right...coomon getting pushed back another 300 million..insanity to stay with it..buy the debt and have a say...
All goodwill and intangible..no real equity value there, don't waste your time..the junior bondholders have a case versus the seniors getting 100%...Your trying to be the "new" Ben Waisbren?.Equity committee will never happen.
Forget...you need t find the convert holders..They trade for 2c on the dollar, and they have something to fight for,, with a 2c junior bond price no Judge in his/her right mind gonna allow an equity committee....Junior Bonds are your play. Senior debt is 34c
I disagree. Says its viable, but whose gonna buy that grade that % recovery and what remains in M & I after new study. Its too small too low grade...Grading is barely negligible...I think it liquidates..j mho
No naked shorting,, they are borrowing shares and shorting its an easy short..this is going lower until the 22 million shares price..who's gonna stand in the way. EASy EASY short with millions available to borrow millions...
Means WIN business is worse than thought..they are selling their stock with a 9% yield bad sign..very bad sign for WIN. My guess is they price the sale at $24..even 10%.
selling their stock with a 9% yield, are you kidding me...
Normally I would agree, number is closer to 95% wipeout but lets not quibble with that part. In this case there is zero chance equity gets anything except maybe the right to participate in the rights offering as a standby. The unsecured debt trades at 1c and they come before the equity. 1c so there will be no equity committee, this time. Courts won't let the company or shareholders waste a dime on it.
IB..The plan filed gives ZERO to shareholders..zippo nada the bondholders get to buy into a 50 million rights offering at a 1.1 billion valuation. The 10% bonds GET 100% of the NEW equity. I think you missed that part..Shareholders are cancelled its in plain English...The term sheet was filed with the US Bankruptcy Court early this morning you can read the Term sheet yourself..don't trust what I say
Assets maybe, cash flow no. 130 million of interest expense now to service. Offering 10.5% on the 650 million of new paper... I suspect we see bond-- equity conversion next up...I sit waiting to see the terms of this new first lien.
nick, Manchurian candidate, 5th column call it what you will..but Tax payers should not be bailing these guys out, nor anyone to a large degree. That being said Moly not going away..equity going to the bondholders under chapter 11, so NEWCO will trade again at some point..