That is a very dangerous strategy in my view - an early rule of learning finance - do not borrow short to lend long.
I have to say if I was on the board of PVL I would just take the hit and leave the money in the bank - paying 12% interest to earn 3% is dumb, but a hell of a lot better than not having the money to repay in 5 months time. They just need to look at their own practice of ramping interest rates etc if debt is not repaid. The show might be on the other foot.
Just looked at the NZ companies office records there are a number of "new" companies where PVL is a shareholder (1 share out of lots). My guess is they have some new projects to fund, or have made commitments to these companies that might require some cash.
What these guys need is head room and that is why the failure to sell the Invert Robotic shares was disappointing, that would have given them some capacity to do something positive etc.
Re selling something. Not sure what is avaliable - remaing Arc Active shares, maybe Invert Robotics. Still too ealry to sell Crop Logic shares - escrow but also that would tank that share price even more.
What else do they have to sell at this time?
PVL Price at posting:
24.0¢ Sentiment: Sell Disclosure: Not Held
