Shady, I agree. No mention in NoM of share issues of the size...

Shady,
I agree. No mention in NoM of share issues of the size needed for a full banking syndicate refinance, which tells us that refinance by a trad bank debt facililty is unlikely - at least not in the near future.

Pressure then really on Taurus to extend past Feb, but expect them to try to up the interest rate somehow (although 13.5% is already a significant return). But then where would the extra $32 come from to develop GG? In depressed markets like these, it is basically an equity risk and that means big dilution to existing shareholders at some stage.

Maybe the MLX scenario has substance - although you can guarantee that any deal would have to favour MLX s/hs multiple times over RNI holders. That's the nature of rescues.
One other left-field thought: VRX got into debt difficulties and who ended up bailing them out at bargain basement prices?

I reckon BoD / MK would do anything to avoid that scenario, which adds weight to an MLX or similar solution given that the usual banking metrics don't seem to be an option.

Definitely an interesting AGM coming up.

GLTAH
DYOR