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Friday, July 28, 2023 5:01:51 PM
If you’d like to look at it from that standpoint, would you mind putting together a consolidated transaction report showing the dollars GXII sponsors have invested in Niocorp by way of the agreement and everything they have received in return?
I’ll even give you the benefit of the doubt and just ignore the $20MM spac fee since we don’t know exactly how much of that went back to the sponsors.
I’ll give you a head start: the 4.65 million shares they will have next March covers more than the initial investment in GXII, assuming at least the stock doesn’t drop much below $2 by then, but I doubt that will happen.
Did you bother to ask yourself why every other GXII investor redeemed their shares except for the sponsors? Does anyone really think the sponsors stuck around because they believed in the project and not because they were taking advantage of a one sided deal from a purely financial standpoint?
Risk free for the counterparty, just like every other deal except for the sucker one Nordmin agreed with to advance ground freezing engineering. They won’t touch this with a ten foot ground rod now, but of course they ended up ok in the end and left shareholders holding that small bag too.
MS isn’t a world class negotiator. He’s a literal mark for the big boys and a grifter to the rest.
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