Dammit, spot on @stumpytrunks $1.5m isn't it? I was just wondering myself whether Pure will allow the board the room to address scale, cut costs and improve production or whether they will want a more direct control.
Pure can ill afford a capital loss on their VEN security so they must be weighing up their options. Do they vary their $1.5m covenant so that VEN can get some work done, advance some additional funds or do a "Glennon" and take control VEN's operations.
VEN new about the scale as some sort of issue in September last year. They would have been better placed as the operator addressing the issue then instead of chasing unicorns with GLL. VEN may live to wish thy had acted a little sooner.
MEL Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
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