re: sgw /cabot review/sabre/sub 10c ?
The only way the creditors MIGHT ever see greater than 50% of their money is if the assets were refloated as an entity imo.
There are several things working against them.
-The time it is taking for the sorting of the current Cabots contract.
-The lack of LONG TERM viable resource at Wodgina/Greenbushes which gives the leverage to negotiate long term contracts.
-The probable production costs over the remaining life of the mines.
The longer this goes the more the creditors/administrators are being forced into a corner.Still all very messy and nothing really resolved.In fact made that little bit more messy by the SGW holders being given creditor status(for the moment).
We will see what we will see Sabre.
d.
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