Secured by Debt

Ni, Co, Cu, PGM, Au Properties in Ontario Canada

Producing Mines and "state-of-the-art" Mill

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tantallon

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Secured by Debt

posted on Jul 25, 2011 02:54PM

Traps, I don't understand your percentages. As per the MOU all assets owned by Liberty are now secured by the new issues of debt.

There is no need for voting of shares. Unless JJ extends the payments or due date again (which I highly doubt) there is no need for any voting of shares.

Once those due dates of 18 months and 36 months kick in the MOU takes charge against the various Liberty properties.

Not to pick on just Groves as you mentioned, but suspect that ALL exploratory properties will be claimed and privatived by JJ first. So Groves, Shinning Tree, Carmen claims etc.

I can't see JJ taking over Hart and the mill right away. They would look like the big bad wolf that Goldbrook claims. So I suspect they will treat Liberty with kid gloves as they always have and let liberty prove once and for all it can get its act together.

If not, JJ will simply reclaim all of Liberty's assets with a court order. No shareholder vote will be required. And that is still very generous IMO.