Contrast the difference between these two statements:
Dec Qtrly on 31 Jan 2020
In addition to the successful equity raising, FAR announced an update regarding its US$300 million
senior secured reserve-based lending (“RBL”) facility. Over the coming months, FAR "will conclude" the
documentation process for the RBL facility, select its preferred provider of junior debt and conclude
the necessary funding for the Sangomar project.
https://hotcopper.com.au/posts/42679699/single
Versus FAR's update on 25 Mar 2020.
FAR’s discussions with financiers are materially compromised in the present market conditions.
Disruptions caused by the COVID-19 pandemic and the crash in oil price are presenting challenges to
our debt process. The company will provide further information as soon as possible.
https://hotcopper.com.au/posts/43686991/single
Notice the huge change in language:
It went from "will conclude" to "discussions".
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