I'm trying to process all this so I'd appreciate people's inputs. below are my thoughts on what could happen from here.
1. everyone stops, noble takes security over the mine. shareholders lose everything. I don't think this is the first course of action as selling the mine would take a long time and they may not recover their debts doing this. I think this would be their last preference
2. they decide to look for a third funder and the saga starts again. to do this, noble has to bankroll the working capital again and they seem reluctant to do this at the moment
3. noble and pic negotiate together to chip in the 100million that IDC we're providing. this simplifies the lending process. I'm not complicit over the full history but was under the impression they wanted a third funder to dilute the power that noble has. I'm sure most shareholders would vote for noble to have power if it means their shares are worth something
these are the only 3 options I can think of that could happen from here. I'd love to hear thoughts from people wiser than me
I do hope we didn't all get screwed
RES Price at posting:
6.4¢ Sentiment: Hold Disclosure: Held
