I know, it's all good.
Look I am a realist. I've tried to look at this as objetively as possible. I did think the worst was behind us until they came out with this.
Now the way I see it in simple terms is that Taurus and the world bank are the lenders. The later could possibly write-off the lending, but remember they are in it mostly for community development in these nations. It would be a bad look to pull the plug. In terms of Taurus, the only way to get the money back is to dig it out of the ground (the copper) and in both cases a default not only effects TGS but effets the lenders. They simply cannot afford to have this project fail. If it were a bank where they could seize assets like a house and take a bit of a haircut, then sure this would be diffuclt. But the scope here is waaaay to big to let it go.
Todays ann is actually a clue for me that the lenders are willing to bend.
TGS Price at posting:
4.9¢ Sentiment: Hold Disclosure: Held
