Not so fast boys and girls. Remember Quintis received a waiver,...

Not so fast boys and girls.

Remember Quintis received a waiver, subject to certain terms, from a majority of noteholders with respect to the publication of the Company’s March 2017 quarterly financial statements.

This latest announcement is merely consistent with the requirement that " terms for a waiver or deferral of payments under a put option to an institutional plantation owner that are acceptable to a majority of the noteholders are agreed".

Perhaps DK has finally realised that its put is worth as much as the plantation it is written against?

Seriously, who is going to put money into a technically insolvent company only to see it disappear out the door to a private equity fund, or FCW for that matter?

With the DK Put remaining unresolved until December 2017, recapitalisation is unlikely to be resolved until 2018 at the earliest.

Longs also seem to be overlooking the other big elephant in the room : that being that QIN is in default of its Notes' coupon payment obligations, with the possibility that the loan is called in at the end of the month.