Replies to post #7331 on Applied Minerals Inc (AMNL)

[jimbosskow]

When a company defaults on its notes, the lender can take possession of the property or equipment offered as security for the debt. In some cases, the lender is limited to the secured assets, and if the obligation is greater than the secured value, the lender must take the loss.
So let’s see what was offered as the security for the loan and we go from there.

[MasterSalix]

Absolutely, Ionic has been quiet - I am sure when this is over they will come out ahead - shareholders here, probably not so much.