Clearly some major scrambling behind the scenes here - if Glencore is nervous signs are ominous for the minnows...that said clearly would take more then a weekend to sort out whatever is happening here, be it refinancing, renegotiations of financing, so a voluntary suspension was odds on anyway. Maybe Noble et al and the banks have called in the debt. Will we survive? Out of the companies hands I would suspect, clearly a quality suite of assets at the wrong time of the cycle and those with deep pockets are invariably the only ones that survive. Good luck to holders.
COK Price at posting:
1.4¢ Sentiment: None Disclosure: Held