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clock Created with Sketch. 27/08/19
18:34
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Originally posted by sydneyguy:
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So it was a smart move to borrow the funds, give away first ranking security over all of GXY assets to BNP when it had cash on hand probably earning next to nothing.?
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More to come. This is simply the Tribeca part. Taking on a loan made in a more positive market will come at a cost to A40 and maybe even to Tribeca. I wonder how much of A40, GXY will own when A40 trades again. I’m guessing just under 20%. This risk will come at a cost that needs to be paid now and A40 can only pay in either shares or resource and they haven’t drilled the resource. Interesting few days ahead.
