SK Innovation, page-1444

“An intent to commit by end of month without showing support would be a blow to investors” well we certainly agree on that rusty! Unfortunately that’s how I think it will play out and thus why I said to tony b today just a letter of intent is crap but that’s the picture the Co seems to have painted with the jan 20 deadline.
History suggests SK don’t give a crap about acting as a partner as was sold to shareholders by management at the beginning of the relationship.If they were a true partner in this project things would have been far different to this point, any actual support from them even a little would have assisted and would have sent a msg to the market this was a goer far earlier allowing the Co lots more favourable options than Bergen and Pattos when capital was required.I just see them stringing this out again and putting more pressure on the Co as far as operating funds go. Auz May in fact have other options with other parties down the track but SK has them by the balls atm if you ask me. The Co trying to lower the loan shares down to 3c from 11c is telling and is indicative of a number of less favourable outcomes, especially for shareholders whom are in the red big time. There trying to set a very low bar for upside for them. Anyhow not long now and we will see who’s right at end Oct.