No news on the default. I recall it was due to be paid on Dec 1st 2017. Given it wasn't paid I would view this as material information (for this companies prospects) that has not been disclosed until the quarterly came out on 31st Jan 2018. Is that acceptable?? In some ways I am happy the payment was defaulted. Sale of the assets at that price was a poor deal (especially when company claims it has some interest in restarting production at Bendigo - albeit at lower production levels). Interesting that Morning star re-rated this company from Fairly valued on Feb 1 to under valued on Feb 3 (i.e after the default as announced). Perhaps they view that the assets might now be put to better use or sold at a price more reflective of the cost of replacement. My view (after watching this company for some time) is that the assets would be better placed in the hands of others..
GBM Price at posting:
0.8¢ Sentiment: Hold Disclosure: Held
