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Re: None

Wednesday, 04/17/2013 9:11:55 AM

Wednesday, April 17, 2013 9:11:55 AM

Post# of 17231
It's all about survival now. The $7.9M loan is due by July 1. I don't know if they can work out a 1 year extention. I'm sure that Sprott wants to get in on any additional financing. I don't know if he would be willing to do an all cash financing. I'm sure he would want a lot of warrants and that could be the reason for the beat down. If they borrow $20M they would have about $30M in cash after paying the $7.9M. Silver can't stay this low too long or mines will be closed and projects will be postponed. It's a matter of being the one that survives. Sprott can get 10% interest, receive a bunch of cheap warrants and dramatically increase his ownership in USGIF with a financing. It would make a lot of sense to short some shares at $1 then Buy them back at .60 after making a financing deal with .60 warrants?

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