re: gwalia gold turns to dust/excelsior Excelsior,
excellent summary.
Just add to your do not list- do a note issue to US holders that have a maturity pattern that mismatches with a big capital expenditure commitment. Such a double whammy destroys shareholder value for the long term. (This was not a cause of the catastrophe, but has significantly hindered a restructure looking forward-gave the lenders nowhere to move!)
Cheers,TAS
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SGW
sons of gwalia limited
gwalia gold turns to dust, page-3
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