Replies to post #4628 on Hycroft Mining Holding Corp (HYMC)

[LouisDesyjr]

More on $17.5 million asset sale

It does look like there were two objections.

1: Doc #181
https://cases.primeclerk.com/alliednevadagold/Home-DownloadPDF?id1=OTk5NTI=&id2=0
WK Mining objected that they did not know if their mining rights were part of the sale. The response was that it did not matter, since where ever the rights are, at some point the rights will be with NewCo or the sale.

2: EC Doc#213. The EC objected also, citing information and not knowing exactly what was being sold.

The court did not seem to think these problems mattered since:
1: The assets are all undeveloped.
2: The company had been trying to sell the assets for three years with no buyers.
3: No other buyer qualified to bid on the land/rights, so they did not even have an auction since there was only one buyer.

Louis J. Desy Jr.

[Stockminder]

How would the other bidders know if they were given the same information. I'm imagine they assumed the information provided by the seller was accurate at the time.

Tuttle is making issue of this because of the bankruptcy. He seems to want to insure that the assets are liquidated appropriately with the proper value assigned and that this particular deal was done fairly. It appears he questions whether there is some untoward relationship with the buyer and the debtors. The information he seeks might or might not support his claim. The fact that the other bidders didn't object means little, unless they are shareholders in ANV