Home > Boards > US Listed > Mining/Resources > Cerro Grande Mining Corporation (CEGMF)

CatedralI had always hoped that they would liquidate

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TamerWoods   Friday, 11/29/13 12:58:40 PM
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Catedral
I had always hoped that they would liquidate that property and generate some working capital from it. When I read old filings it seems they invested some serious cash into preparing the site. As best I can tell, all those investments were gradually written off the balance sheet. The company has always characterized the site as economically viable site for lime production. They obviously don't have capital left to realize a return from their own operation, but a sale into stronger hands could goose up Cerro Grande back into strong operations at Pimenton. It is the ideal move for shareholders it seems. I don't know if a sale could generate $2M or $10M. I simply don't know the numbers that would determine a buyer's investment and return projections.


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