Page 45 - Bluestone Resources News Today : Breaking News, Live Updates & Top Stories | Vimarsana

ADVERTISEMENT ADVERTISEMENT Mining Co. Sues Greensill Over Soured $850M Financing Deal Law360 (March 16, 2021, 5:45 PM EDT) -- West Virginia Gov. Jim Justice's coal mining company Bluestone Resources Inc. has filed suit against recently collapsed British financier Greensill Capital (UK) Ltd. in New York federal court, accusing it of "continuous and profitable fraud" in connection with an $850 million enterprise financing deal. Bluestone said in Monday's complaint that the supply-chain finance company advanced $850 million to it, but it only received $723 million in cash from the arrangement ...

Even in the booming and often opaque world of factoring and receivables financing, selling something that doesn’t yet exist is at the eyebrow-raising end of the spectrum.

In a year when revenues shot up and operating profits declined, the sums owed to other group companies climbed to £159million from £21million. Management fees charged to group-related enterprises rocketed. The company received a loan of £8million from a key employee (since repaid) and the rewards to top bosses rocketed to £11million from £1.4million.  A note to the accounts says this was for ‘the outstanding performance of the business’. Creditors may question that.  The supplier invoice arrangements which provided 90 per cent of the revenues in 2019 were from just five clients, a ...

The supply chain finance party is coming to a messy end. Greensill Capital’s collapse has once again highlighted the hidden risks in the $1.3 trillion business of helping big companies channel payments to their suppliers. The combination of scandal and sunlight should produce...

Bluestone Resources Inc.: Bluestone Increases NPV of Cerro Blanco by over 275% to $907 Million and Peak Gold Production to over 300 koz per Year 7.5:1 0.78:1 277,000 ounces 231,000 ounces Mine life G&A - $2.28/tonne milled Total operating costs $570/oz Au $642/oz Au $173 M $272 M per year (years 1-4) Total production after-tax free cash flow $2.0 B IRR (after-tax) 28.5% (base case), 36% ($1,800/oz gold) *all in sustaining cash costs (net credits) = (operating costs + offsite costs + royalties + sustaining and closure capital - value of payable silver ounces) / payable gold ounces Table 2 - Ec...