Imagine for a second that it may cost 5-10million in redundancy payouts over the next 6months as key staff employeed since 2015 are no longer needed to process and manage the sale of diamonds.
Lets treat this as hypothetical - Winsome called option Feb 1 and take ownership 28 Feb.
1. Winsome take ownership of mine/plant on Feb 28 that has been semi operational with monthly costs of (8.5mil/6momths) as court allowed milling campaigns and sale of diamonds to assist in payment to creditors.
2.Winsome dont get the income from sale of diamonds, they get some accommodation income and can start telling strategics, we are on site, very busy trying to reduce costs because all those things that should have been done to inform numbers for our shareholders about Renard hasn't been done, we will chat in a few months.
3. Winsome required to do environmental closure work on UG mine shafts.(only one I can think of, but I am sure some mining people would have a few more)
3. Winsome required to do make staff redundant. Payouts, payouts and payouts and it falls on owners of Renard...(its in the court papers)
This all sounds like fun while dealing with strategics.
Or wait 6months and let the current owners do it as the courts have not approved anymore milling campaigns and Winsome can deal with strategics, studies on Adina and Renard.
fwiw - there are theories galore going about based on someone saying X or Y.
I take my theory from court docs and make an informed assumptions. If I am wrong, so be it
WR1 Price at posting:
30.5¢ Sentiment: Buy Disclosure: Held
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