The Question I have...
posted on
Nov 23, 2009 04:49PM
In Chapter 7 BK
The question I have is how long will the entire process take.
1) CFIUS approval - up to 12/21/09. If it helps make anyone feel any better, the chances of an investigation look slim. I copied below off of Wikipedia
CFIUS Notifications and Investigations, 1988-2005[6]
Total |
1,593 |
25 |
13 |
12 |
2) Stock holder approval - it is difficult to believe anyone would vote no, but it will take time. Which begs the question, will Firstgold start ramping back up before the SH approval? It is implied by today's news that NW could advance funds after CFIUS approval (hopefully before SH approval since unlikely before 12/31/09)
"Northwest is not able to advance additional funds until CFIUS approval has been obtained."
3) In addition I was reading, on this hub, that the existing Leach Pad will need additional engr/costruction due to low yields.
I don't mind the wait, its the cash burning that hurts.
I haven't been thru a sale and SH vote before. Anyone know how long that takes?