Forget about everything else except for the debt...loan facility is due in less than 4 months!
Another extension? (mgmt will have to have a very convincing plan in place – of course I would love to know all the details behind granting the first extension)
Massive dilution? (look at the SP)
Selling assets? (nowhere near enough, can’t even sell off a large enough share in the current Baralaba mine – not enough reserves)
New loan? (doubt it)
I sold out the other day at 11.5 cents (took a hit). Too much risk for me.
If they sort things out with the debt facility the SP will rise significantly ST, but MT they still need the cash for the expansion. Mgmt are good - very good, but it looks a very tough situation atm.
I will consider getting back on board once they sort out the current loan facility.
COK Price at posting:
9.1¢ Sentiment: None Disclosure: Not Held
