Oh my god... as if they just found out yesterday when the...

Oh my god... as if they just found out yesterday when the previous announcement references that they had delayed payments to BUMA pending negotiation.
So they knew the amount of payments pending ...this is nonsense.

If they accept this, then they're at 10M which is not enough liquidity to run operations in the month and prior to conclusion of debt negotiations will fail to meet their next debt obligation. The only way they can do this is by renegotiating terms of repayment with BUMA which given this announcement has failed thus far. By choosing not to pay, you're looking at a MC of like 5M aka 50% haircut and thats before factoring in that operations/cashflows are on half fleet.

There is no volume to sell into now. Giddy up lads.