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  4. Mining Global Inc. (MNGG) Message Board

So it looks like the first phase of the buyback pr

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Post# of 12259
Posted On: 09/27/2014 6:21:24 PM
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Posted By: bruzy
Re: WillForeall #348
So it looks like the first phase of the buyback program will be a debt buyback,the 1B that was to be converted in dec. to cover the the $ 100,000.00 due in december,also whatever is left of any current conversion,looking at the balance sheet there may some left of that old 70G ytrv debt still converting through MAXM ,do not think vndm is converting here,vndm was bid sitting at .0001 and loading tons over the summer and is now a one tic flipper sitting on 2,our converters were vfin[now finished ] and maxm which is still there .the first debt buyback this week ] should be able to clear maxm.Then the 100 k will be bought.That would mean that the float would remain at 6.7 B and raise to 8 B like joel had stated a month ago.Once those 2 debts are bought back then the buyback will start float reduction.My guess is with the money being allotted this year for buybacks the float will be 5.2B-5.7B EOY. The 600K due next year has no lock in dates and no reservation for forced sale ,it is a non toxic loan that well be paid back with cash probably between march and june.IMO


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