I bought yesterday. May think again about buying today or tomorrow. I'm keen on grabbing another handful before CUO rockets up. (IF it does rocket up)
If it can't refinance directly then it has to either sell assets or possible hook up advanced sales of copper if there is any free producion.
Selling assets is a problem because all its holdings are highly illiquid, any sale pretty much needs to be off market and for a significant discount in this market (30% or more i suspect).
I believer though I haven't confirmed that the Xtrada takeover concerns LonMin, not Platmin. (LonMin is another stakeholder in Platmin.)
Most likely a refinance should happen.
CUO
copperco limited
