a deal is close, page-17

Hey guys,
Difficult to post with no new information.
You have been monitoring the nickel price and hoping this would sway the deal in favour of current shareholders.
It's the only piece of information we have!
For my part I'm in this the emphasis is on the unsecured nature of the debt.
The bond holders like us lose everything if she goes down.
That is who might put up $45M rather than lose $400M.
This is the only bargaining tool the current management have but in competent hands it's a beauty.
If the MD is only concerned with the job preservation we're stuffed. But if he
manages to hold the line and this could explain the protracted timeframe, then we have a chance at a decent result.
Predicting that result is really related to how much money we need to continue and if we can reasonably expect to trade at break even until we get a break on the nickel price.
Careful not to trust the Indonesians to follow through on the ban. They are not trustworthy, they have their own business ethic and it's different to ours.

There's no new info here, just my take
DYOR

U