Wondering if there is a legal argument to be made here as we had a credible refinance agreement offered by the banks originally to raise funds but the majors rejected this as shareholders. So can they then default the company later by buying the debt like that and not offering repayment terms.
That seems wrong on a legal level as they could it could be argued of pushed the company into this position
DB and the board cannot buy when they’re in debt negotiations slight hint of insider knowledge dont you think.... so there’s your answer to that they physically CAN’T
You also say a big seller but actually the sold volumes are small it’s just very little of this stock changes hands so it looks big. The total sold probably is around 8mil not massive. In the context of the panicked markets thats tiny.
Lastly the refinance is about getting the debt levels down to sustainable levels not removing all debt.
Also correct me if I’m wrong but dont the two main shareholders have conflicting views i.e one tried to buy the mine but the other rejected it? if so why would they now work together
That’s it, people don’t like uncertainty and theres the unknown of finance terms.
Good thing is while we wait Q1 production gold sales should be at least around the $1581 mark on average. Add to that slightly more gold produced too and a slight reduction in costs we’re trucking along.
Everything considered this remains beyond cheap and should be, at a minimum around the 1.7p mark even before refinance terms