What does this mean for Pen???
They had to pay Black Rock yesterday and obviously don't have the funds to do so.
Whatever the outcome its not pretty for Pen...
"As at 30 June 2014, US$12,444,000 has been drawn down and is due for repayment in
December 2014, together with a US$1,100,000 redemption fee. The coupon rate on the notes is 11% per annum. The notes are secured by a first ranking charge over all of the assets of Strata Energy Inc and the right to sell an existing contract that Strata Energy Inc has for the sale of 1,050,000 pounds of uranium between 2015 and 2020. "
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Mkt cap ! $99.19M | |||
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