"This change holds out the promise of considerable capital gains for note holders, dependent on the sale of Northern and Big Star project areas for a price of more than A$220 million (~US$165 million)."
Why would noteholders want to hang on if they receive no interest and only participate in considerable capital gains above US$165M?
Further acknowledgement of my point - if noteholders can see evidence that the asset is worth at least US$30M today (via the findings of the Investigative Accountant), I doubt they will be waiting for considerable upside when the value needs to be higher than US$165M - which is considerably higher than the asset value based on 1P reserves (i.e. unlikely)
AZZ Price at posting:
50.0¢ Sentiment: None Disclosure: Held
