The only realistic expectation is IF everything goes as the company says in 2018, for the year the company will repay alot of people that are not shareholders. This is conditional on shareholders putting $36m upfront to partly pay those non-shareholders. Considering how much of what the company previously said has fallen through the cracks, it would be better to view it as best case scenario.
The baseline case is MACA paid orion so the secured against asset status is now passed from orion to MACA. MACA is well placed to capitalise on this in the worst case scenario the mine goes into VA, so they don't have too much risk. Orion got what is theirs for the time being. Shareholders meanwhile is going to be taken on a ride, paying the privilege to see out 2018 but have nothing to show for it in dividend or other capital return.
Got alot of rain in WA over the last few days and in the central inland area it got pretty wet after Christmas. I wonder how the company is coping with the weather this time around. The rains came mostly at the end of December month, so the company doesn't have to say much until the next quarterly.
In summary as a non-holder this still feels like good money chasing after bad. Your choice DYOR.
BLK Price at posting:
10.5¢ Sentiment: None Disclosure: Not Held
