Hopefully this is public admission enough of intent on NMGL's part to deliver A & B shares to shareholders. --SevenTenEleven
No, it is not. How is this filing any different than the December filing for $258 million for FFGO's portion of the gold mines? FFGO may have promised cash dividends from NMGL in FAQ's and press releases. NMGL has not made any intent or commitment to FFGO shareholders. The filings are strictly limited to buying FFGO's share of the gold mines (nothing else).
NMGL could have issued NMGL A&B's to FFGO shareholders based on the $258 million they paid for FFGO's share of the gold mine. We may not be able to redeem them til the entire gold mine is sold and they receive their "commission and surplus" from the sale of the entire mines. Atleast, I would have intent on the part of NMGL to FFGO shareholders. The purchase of the rest of the gold mines has no calculation on the number of shares of NMGL A&B's we would receive. Of course, if stockholders keep adding shares and NMGL takes forever to get the mine sold then it becomes more effort to keep adding NMGL A&B's.
The problem, I believe, is that both FFGO or Western or NMGL have no cash. If they did they would have had our cash dividend long long ago. Instead, we play hot potato with share swaps and saying the other guy will pay cash. NMGL may sell to some other guy who doesn't have any cash that will start the cycle all over again. These little penny players seem to have no cash... Maybe NMGL can find someone with cash. That is the only way we will get a cash dividend.
FFGO may have said that NMGL would deliver a cash dividend through NMGL A&B's, but, we only have FFGO's belief. NMGL issued No press releases or other statements of intent to give FFGO shareholders a cash dividend. NMGL could say they are not liable for FFGO shareholders because they made no public statements concerning FFGO shareholders. They only show an intent to buy a gold mine (nothing else).
FFGO or "Western" could easily give us a cash dividend based on their NMGL A&B's. Oh, that's right, there's no cash. Only shares swapped. Ok, so, FFGO could give FFGO shareholders NMGL A&B's to redeem at a later date.
AI
