That might be complex to re-structure, and potentially delay Nobles plans another five years, as there are no real major shareholders that have been considered friendlies (maybe Altius/Noble-but Altius owe Noble), and too many offtake partners (Indian companies) that paid good dollar for the right to offtake, BEE (with debt to us), and other strategic shareholders that want a piece of this. Also, Noble would have budgets with marketing dollars coming through, that they would be keen to see. Further, contractors would be getting anxious to start, and risking these relationships would set them back years if there is a complete change of ownership.
Most major shareholders/partners (that's the Indian companies with offtake) bought in at 22c or above.
At the moment, they need to plug only $70M, and have not the capacity, so stretching for a buyout would be wishful thinking. i.e. it may be good/easy for us.
The site is valued at around US$200M for Ledjadja alone, so if sold for market value, so we would fair well after retiring of debts if your right.
We will get some sort of guidance soon (within a couple of weeks now), as cashflow is running down.
Personally I would like to see the next plan with an equity stake provided to ensure less debt, but there are so many ways this could be carved up that would work for us.
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