This is the fundamental point. an all scrip takeover and replacement of the management team is in order. I prefer this.
Alternatively sell half png assets for 150m. Pay down debt. Half salaries. We are now a very attractive junior with cash. We can have discussions with jv partners on commercialisation without the distressed tag because we can pay our way.
Part of something is better than 100% of nothing.
Developing PNG assets, page-46
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