There was another exploration co, GGG, which had a partially...

There was another exploration co, GGG, which had a partially underwritten rights issue. The rights issue was way under subscribed and there was a delay in receiving funds from the underwriter. I don't know exactly when the funds were due, but the rights issue was completed 2 October 2015, and by 7 October there was a trading halt followed by a suspension to allow the issues with the underwriter to be sorted out.

CSD had a high of 3.4 on 20 April and 3.8 on 21 April. The SP then fell away rapidly to 2.5 by the second week of May. If a TH had been announced in the first few days after the loan had been due, the closing SP would have been higher and there would have been a better chance of a CR. Indeed, if VA had put in place then, there would have been less money spent and less debts.