TORONTO, March 9, 2015 /PRNewswire/ - Gran Colombia Gold Corp. (TSX: GCM, OTC: TPRFF) announced today the details of the monthly interest payments it will make on March 31, 2015 on its Senior Secured Gold-Linked Notes due 2017 and its Senior Unsecured Silver-Linked Notes due 2018.Gold Note holders of record as of March 20, 2015 will receive approximately US$8.77 per US$1,000 face value of the notes, leaving a balance of interest in arrears after the March payment of US$17.26 (approximately two months) per US$1,000 face value of the Gold Notes. Silver Note holders of record as of March 20, 2015 will receive approximately US$4.38 per US$1,000 face value of the notes which will be applied against the interest in arrears from December 31, 2014, leaving a balance of US$17.13 per US$1,000 face value of Silver Notes after the March payment. These payment amounts are derived based on a 32-day period from February 28, 2015 through March 31, 2015, inclusive.The interest payments are being made by the Company while we continue work on a comprehensive plan moving forward. The Company has recently received an optimized mine plan for its Segovia Operations from SRK Consulting (U.S.), Inc. and is commencing to undertake the required actions to implement it. The Company is continuing to work closely with its financial advisor, GMP Securities L.P. to evaluate its various options related to the capital structure of the Company and its future debt service abilities on both Gold and Silver Notes.About Gran Colombia Gold Corp.
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It's time for another installment in our occasional series that takes junior mining gobbledegook news releases and translates them into something that normal human beings can understand. These days we tend to do the translations in as few words as possible, too.
So here we go with today's episode, which comes from our old pal Serafino Iacono over at Gran Colombia Gold (GCM.to). We got this one down to just four words too, which makes for succinct and concise reading. Make sure that Frank Holmes gets to hear about this, won't you? Thanks in advance. (edit: apparently Frank heard earlier this morning. Hoodathunkit)
And this is what it means:
We have no money.