Ann: Bondholder and Nedbank Standstill, page-46

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nil by mouthj

605 Posts.

30

03/04/17

21:42

Post #: 23827341
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Originally posted by the trickster ↑

I find most of the recent posts confusing and cant see how they are relevant.
1) The failure of the Manyingee deal has nothing to do with PDN but with Avira who could not raise the capital. The announcements suggest there are ongoing discussions, but seriously, does PDN really need another crap project partner? I would suggest no. PDN still has the asset and therefore can do deals with it.
2) A couple of posters have suggested that the $10mln expected from a minority sale of Manyingee is critical. Firstly that ignores the fact that PDN is going to be restructured, if anyone seriously believes $10mln is material.
3) They pretty much now have all standstill and extension agreements by majority, which implies they have the necessay support for restructure. How this plays out depends on the result of Arbitration.
We will know soon. In fact the situation has improved since last week because they have now articulated they have support from more stakeholders including the bank proving them a working credit facility.
The rest is all speculation and hearsay. We just all have to wait until the results of arbitration are known.
I also believe is good that it stays suspended until after restructure, this is something that potentially should of happened in Jan.

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''I also believe is good that it stays suspended until after restructure, this is something that potentially should of happened in Jan.''

Hear, hear.

PDN Price at posting: 10.5¢ Sentiment: None Disclosure: Held
2 Upvote

0 Great analysis

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