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11:28
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Originally posted by muzzac
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So CDG is now is voluntary administration. If platinum see no value in Cleveland then why will they not give up the debt note to the other shareholders or back to the company at say $1. IF (very big IF) David believes they is still life here then this would remove the impediment and good for all. Why then would Platinum stand in there way? They still own a lot of shares at zero now, so anything above zero is good for them also. Obviously receivers are not time constrained when everyone else is, they are generally not business people nor market traders IMO. Therefore the hangover of their shares would be pretty bad, but still better than default IF and only IF there really is a resource there to extract, which if David really has put $30 mio in he must be a pretty big believer.
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For all intents and purposes, Platinum, being the largest creditor, own the company now, or the administrators of Platinum do.
