Ann: Landmark Deal On Costs - Mining Back On, page-67

If you take their comments at face value they will be profitable with IOP above 50USD and exchange of 0.785.

So there is certainly earnings "potential", and balance sheet matters from the point of continuing as a going concern. A potential pardon is no good to the executed.

"Value" might come from earnings, but sentiment that the ship remains afloat medium term with a strong balance sheet has a value in itself.