RE: Cash breakeven on an ongoing basis6 Oct 2022 16:15
Why would Riverstone release the second $35m to these turkeys, given how quickly the first tranche was spaffed up the wall? Surely there would be performance criteria to be met, prior to the release of the next tranche of funding? Given that default is inevitable, why would Riverstone, effectively, want to pay $70 for Islandmagee, when they can have it for $35m and a little patience? The rest of the "assets" will end up in the bin, where they belong.
Releasing further funds merely gives JW and chums more time to stuff their own pockets, before the inevitable.