Gollada From my reading; RCF is an investment vehicle. It sets...

Gollada

From my reading;

RCF is an investment vehicle.
It sets up individual funds supported by different investors.
The one backing AVL and TMT is Resource Capital Funds VII ie Fund SEVEN.
The one that bought Ausenco was Fund Number SIX.

So I am confident the proceeds of the Ausenco sale would not get moved here although maybe RCF V1 will choose another investment.


Furthermore RCF 6 looks like a white knight rather than a villain in that situation according to the bit of research I’ve done tonight;
Ausenco had been a once great contracting company that got itself into a very bad situation with carried forward losses of $86 million dollars.
Moreover it had loans due to the value of $60m which it could not afford to pay without a massive capital raise (which I suspect few would have been interested in due to the environment back then, and the fact Ausenco shares had fallen from $15 a share to 34c.)
https://www.australianmining.com.au/resource-capital-fund-to-acquire-ausenco/
https://www.theaustralian.com.au/bu...d/news-story/b47883eac83c308e010fbe54cc5b17ac



cheers