I am not sure exactly how to take this information. It is a positive or a negative?
On one hand, bringing NMGL current would be helpful in the big picture of the dividend.
On the other hand, does bringing NMGL current do anything to help our dividend? There may be only so much time left to "wind down" business affairs, pay dividends, retain active shares in the gold mines, etc. etc.?? I don't understand why it would take $800,000 to do some company filings. I can't even imagine a filing costing more than $10,000 per filing. It should be much less. There is 80-100 filings worth of money there. There is only a handful of filings that need to be completed?
This $800,000 has interest. I am sure that will be pretty well ignored in relevance. The $258,000,000 when we sold the gold mines had a 3% interest attached to it and additional penalties. Simple interest for 3% is $7,740,000 per year * 2 years and counting = $15,480,000++ I see no hurry for NMGL to get these gold mines sold. We have not bought 100% of the gold mines, so, we cannot buy 100% of the gold mines. I really doubt that any real cash or real event has happened in the last 2 years. I don't believe that it takes $800,000 to file some filings and I don't believe that a company would make no progress as over $15 million dollars is wasting away. It makes me question the validity of these transactions.
If this is the kind of overestimation that NMGL has done, it makes me question the value of the gold mines and why they have not been bought or sold.
AI
