They were stupid by letting what appears to me to be arrogance & hubris get in the way of securing proper financing in a timely manner and accordingly have been forced to resort to desperation financing.
They have repeatedly stated that they were arranging proper long term finance packages including changing the initial bridging facility to a longer term package, the much vaunted Thai bank loan, etc. - what has eventuated?
They have repeatedly stated that they are on the vinegar strokes of getting rid of the white elephant that is NE - what has eventuated?
Time frames are important when you are bleeding cash and have reached the stage of being forced to use last resort financiers and pay the according price. If you can’t see the dangers of allowing a company to reach this financial position then I see little point in expanding any further.
Why don’t you give some specifics about what they have accomplished over & above what a moderately well trained monkey could have achieved? Perhaps you are too comfortable in your experts armchair to give objective & rational consideration to the lacklustre performance we have endured to date?
General discussion, page-3554
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