I've been wondering about this March 1st firm date - why it exists. In November there was no promise of any resolution date, and I don't see why a company would announce a resolution date - it might make shareholders feel good for a bit, but would compromise their negotiating position. NRW have said they met their delivery dates on time for the project. March 31st could be a Samsung milestone date for Royhill? Maybe Samsung want to know their own financial position before they will settle what appears (from the language in the recent release) is a grey area in the contract with NRW. This would make sense if they feel they are potentially about to suffer losses themselves. We know they have significant delivery date penalties. The negotiations with NRW have been characterised as 'constructive'. This sounds like Samsung's hands are tied a bit - e.g. They are potentially negotiating with Roy Hill themselves and have asked NRW to wait until the milestone is accepted as being met.
The only other possibility I can think of is the covenants or whether bank guarantees are needed must be renegotiated by this date and the company has to disclose that to the market? Otherwise they'd keep that to themselves wouldn't they?
Any thoughts or alternative reasons for the fixed date?
Cheers
pb
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