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Republic Metals files Bankruptcy

Buck

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Apr 13, 2011
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#3
Is that a buy?
 

Ragnarok

I'd rather be
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#4
I hope no one here is waiting for product from them.

R.
 

bern

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#6
Oddly enough, Valcambi put out a press release less than a week ago saying they were acquiring RMC:
BALERNA, Switzerland, October 29, 2018 /PRNewswire/ --

Valcambi SA, one of the world's largest gold refiners, today announced that it has reached an understanding to acquire Republic Metals Corporation (RMC), a precious metals refiner based in Miami US, subject to completion of the final steps of due diligence. The two companies are working through the logistics of the planned integration.

The combined entity will ensure more efficient and better service to the existing and prospective clients of RMC. The combined entity will enhance the quality control, technology and various other aspects of refining of RMC and would make RMC one of the most preferred and best refinery of precious metals in the world.
https://www.prnewswire.com/news-rel...re-republic-metals-corporation-820137992.html
 

oldgaranddad

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On the top shelf.
#7
So does this mean their bars are now collectors items?
 

About.Ag

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#9
$8M cash, $141M inventory


$86M metals obligations
$1.4M accounts payable

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they have enough to cover the customers but will they be allowed to?
There's one tiny missing piece: the $177M owed the senior lenders, who have liens against everything.

All the known assets add up to roughly $174M. So they have enough to pay the lenders most of what they are owed, but nothing to pay the customers.