this outcome is better than what BBG have been forced to accept ..have a look at the interest rate BBG has to pay...this is cheap money at 5% over 5yrs...even if in the end they decide to convert the conv bonds into stock at 15c........
and they will not want to be losing money........
looks like a plan to turn this company around under their supervision.......
this company has always needed a cornerstone investor who put their money on the line up front...NOW you have one.....so NOW I hope the whiners with "no stock held" take a leap over to another stock.....and stop wasting space on the DML forum.....
NO repayments till 31 Dec 2015..(interest till then to be capitalised)..this condition is available if the company is not in a position to pay the due interest.....its optional
A $1 mill break fee...
This leaves the door open to flush out any holdout bids for the company.....they don't show their hands...then we are finished with these unnecessary distractions....
Blumont ...now they kept that secret very well...were Cupric and Phelps Dodge red herrings...or are they still circling like angry sharks.....ready to have a CFC feast (NOT KFC) if they lose out
The uncertainty is now removed...no insolvency...NO fire sale ..leaving us with NOTHING....
Now I'm wondering if Blumont are interested in buying anything else close by....to feed into DMLs' plant or are they just bringing onboard good governance and a lot of cash backing........... at least we can now sleep at night...
DML Price at posting:
11.5¢ Sentiment: LT Buy Disclosure: Held
