I was already worried about this Recapitalisation timing ! after...

I was already worried about this Recapitalisation timing ! after the long wait, the timing they got for this was the worst when Covid 19 started hitting global economy. Now even established companies are struggling and I was very conservative about a new venture at this time, but was hoping against hope if it would be some gold or PPE/sanitiser play.

It still is beyond belief how this went this way. Even at this stage, with all the risks of a Micro-cap, I wouldn't have thought our investment was at total risk considering :

1) MC of $5M and they had raised Capital only 5 weeks ago !
2) All reported payback of the loans we not due until December 2019.
3) Options for exercise.
4) the same month they put the project into full capacity. Even with the Zinc price fall, thought this could go break even or manage to continue due to one of the lowest productions costs globally in Nigeria.