That is difficult to determine, as they are working out the legal and technical differences between two jurisdictions.
In SA we were placed in voluntary administration, for the subsidiaries, and then here they are dealing with the ASX issues, and then throw in Nobles requirement to agree and we have a complicated arrangement.
The proposal that has to be shown to us (for voting), must have enough detail to also satisfy the administrators views as well,. Ie it must cover off everything to ensure the business will operate immediately as basically the administrators are the acting directors. The deal will have to provide everything, right down to funding.
For what it is worth, the interested party, is private, so like you and I, they want this completed yesterday, and are facing the same questions we had. The advantage they have, is we present most on a platter… Ie the rail funding etc.
Coal prices out of Richards Bay are $193 USD!!! There is the carrot!
RES Price at posting:
6.4¢ Sentiment: None Disclosure: Held
