North American Palladium Ltd. (fka PALDF)

[PalSucksBucks]

Ran out of cash in December, can't pay their bills. They can't do a loan financing as they have no security left to pledge. They can't get a broker to do a share raise again as the last deal almost collapsed when the primary pledge backed out at the last minute. Edgecrest got burnt and had to bring in Cannacord to dupe in enough little baggies to complete the offering. Since then the share price has collapsed and their is no hope for another raising. It's flunkken flooshed worthless and is doomed to issuing the $150 mil new offering in exchange for debt with BAM who as new majority share holder will then vote a special meeting to take private and eliminate present little PAL bag holders. The LOC banker seizes their security, the accounts receivables and metal inventory and Bam Auctions off remaining mine chattels to the highest bidder. Bag holders get nothing.
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Sentiment: Strong Sell