SGW sons of gwalia limited

re: gwalia gold turns to dust/excelsior Excelsior,excellent...

  1. 5,867 Posts.
    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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