Great to have the extension and rate cut. But does it matter? Any analysis of the ratio of total debt owed to the parent co versus market value of shares not owned by the parent? Is it 5-6-7 to 1?
Do auditors comment on these matters?
Even if the projects eventually operate — something the market has doubted for 10 years — it’s hard to see how all this debt can be repaid except through equity conversion.
Great to have the extension and rate cut. But does it matter?...
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