The meeting for the vote was called well in advance of the finance being arranged. Perhaps a different way to look at it would be... announce meeting to discuss potential changes to the board... then magically announce finance (perhaps to save face/job).
It all depends on which side of the coin you look at it from right?
And Crisis77, if someone offered you $480m Euro wouldn't you want to know what else they have lent into before? What about where their money comes from? Its called Due Diligence. What were the terms of the loan? Was there equity kickers attached? What about a dilution event for existing shareholders. Did you see a copy of the MOU or terms? Did they even exist.
These types of funders? Who are the others?
As I mentioned earlier, in a depressed coal market with Noble only having a billion in free cash themselves. Do you really think they would commit say half of that to this? Really? Noble make their real money when the project gets going.
Knowing Noble well (having dealt with them many times in the past) if there was an opportunity to have someone else fund the deal and then get the spoils of war (the sales contracts which they make a cut of the price) then they will be the last group to put their own money in the deal.
RES Price at posting:
5.0¢ Sentiment: None Disclosure: Not Held
