Demand for clarity on financing

Thanks for explaining your position (and that of your associates).
I agree transparency from management is desirable. If they won't advise shareholders of the details of your approach perhaps you could enlighten us to the terms of your financial offer instead so its reasonable might be assessed.

Sure, in the interest of transparency, we have put forward an indicative offer whereby we would provide USD$20-30m of debt financing at 12%, with 20% at the money warrants, including a board seat and/or board advisors (to be discussed with the company). We committed to deliver this financing withing 30 days of signing a term sheet, which we hoped to deliver within 30 days of signing a term sheet, subject to the company confirming interest.

The company has not yet commented on it's CAPEX / restart financing needs (to which we are surprised and dismayed) but we also stand ready to increase the amount of this financing. We should be able to provide up to USD$100m.