I think we're pretty screwed right now. I don't think DC & Co. have any malice on this especially given DC owns just under 5% of the company himself, might be worth pennies right now but he's still lost a lot on paper like the rest of us. The delays and problems we've had combined with Shuepbach failing to fund essentially doubling the cash injections required from PRL leaves us in our current situation.
A replacement for Scheupbach would see us well placed to complete the program but as highlighted in the prospectus this could be several months. I very much doubt we'll hear anything before the cap raise finishes.
I can't see us getting 100% subscription unless someone big decides to apply for a massive number of shortfall shares, which is unlikely. More likely we'll hit 40-60% subscription including shortfall placements.
If we don't have the funds to hold standby while we wait for partner, selling of assets is required. If an entire project is offloaded, do they sell Spain or Uruguay? Spain is a better looking project than Uruguay at the moment but the Uruguay play will have a bigger impact if it's pulled off, in both finance and prestige.
PRL Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
