On a more positive note29 Oct 2024 21:06
If
“A non-binding letter of intent (the "LOI") has been signed with a U.S.-based industry investor to fund 100% of the estimated cost of the extended lateral, on commercially attractive terms to all parties…”
is correct, one may objectively draw several inferences,
1. any delay in execution caused by due diligence as “ commercially attractive terms to all parties…”
2. the asset based mortgagor has had full and complete access to the data room,
3. the mortgagee is satisfied that the asset has the ability to recover capital and service interest/profit.
Therefore, as a shareholder, I should have confidence on the outcome.
Lastly, I am disappointed, however, that a mortgagee has been required where the stated BP is Paradox covered by non ops.