Haha, is a special VA/RA not a VA/RA? VA/RA special or not is...

Haha, is a special VA/RA not a VA/RA? VA/RA special or not is what it is! The secured creditors grasp the control of the secured assets. They could sell the secured asset at market value without matter how much the shareholders would lose!

Is any special VA/RA good to its shareholders? Under what conditions its specialities would be benefit to its shareholders? The specialities are based on the nickel price and the secured creditors are also big shareholders.

If nickel price could be up to $6 and stay above it, the creditors would like to hold the mine asset, which could get more for their princial, interests, and shareholding. If nickel price stays at this low, all of the creditors are on the fire. What the losss of $2-4m to the creditors? It means they have to pay interests as though they owe $200-400m to someone. That is bad and the longer they pay this money the bad the creditors feel. One day is not a problem. One month is OK. Three years ar too long for the fund managers. How do they show their customers they could make money for them?

You are trapped here and you could not do anything. You don't want to lose your shareholdings. The creditors don't need to be trapped here. They have to worry about their principle and interests first. Once they fail to see the possibility to get their money back from their shareholdings they coul get as much as possible for their principles and interests.

Before NP reach to $6, the mines are negative assets to the creditors. The more you lose the more pressure for you sell your asset. I sold my investment houses in two years which I had hold for more than 20 years. Why? I feel I could get better return from somewhere else even these houses are still get some return for me!

Are we sure np would never be $6 during next 3 years? No one sure. Could you believe the creditors could not get better return than burning $2-4m somewhere else? You can but if the creditors don't have the same beliefs you fail! The reason is simple that you have lost the control of the asset in VA/RA! You are the limb on the slaughter table!

Anyway someone will struggle in the way to their grave since they could not get a new way. I have posted enough and will leave you here to struggle. See you once np reaches to $6 if it would be sold on fire.