Yes I agree, PIC and Noble… also it removes the debt for the BEE partner. Ie they owe RES.
Noble have to accept in incoming offer, but I imagine their offtake and other only gets better. Also, it’s funny that we found ourselves not progression at the same time they publicly decided to divest? I guess that we’re taking advantage of their position as major shareholder- minority shareholder suppression!
RES is owed money from an insurance policy as well…
What I do not accept is that they can provide us a US$200M valuation based on sales in the region, at the time of financing… and I hope they don’t expect with 12 months and an increased coal price that they accept us to take anything less? Particularly as this is shovel ready, every box ticked.
Ie I was told by the CEO that we were one week from every CP being met… coincidentally that was the point IDC pulled out!!
IDC are pals with Lurco? Funny that!
Yes I agree, PIC and Noble… also it removes the debt for the BEE...
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