Selling a stake in the projects is probably the most efficient way forward. Otherwise we might see some death finance in the form of convertible notes which given current performance of manamgement would probably result in a complete wipeout for equity holders.
I’m scared to find out just what commitments management made without the cheque book to pay for it? I don’t think there is anyway out for those that signed up for the placement but SPP will obviously be a flop. So they will have 20m plus to keep them going and cover existing commitments. Will take more than 3 months for lenders or strategies to do due diligence though
News: BAT Battery Minerals Says $30 Million Debt And Equity Funding Agreement With Resource Capital..., page-15
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