PIP 1 - the debt to the banks of $2.8B started out at about $1.1B - read the PAS last Balance Sheet. It was the penalties and interest charges, and goodness knows what else, that blew this one out.
No the shareholders were always going to be dudded by the Banks, once they got in an executed the relevant clauses in the contracts - executed, theres a good word.
PAS
pasminco limited
Calling on Shareholders to voice outrage, page-3
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