RE: Interesting update29 Mar 2024 19:57
'In addition to these costs, the Company will need to reach a restructuring solution for the group's existing liabilities which as of 15 March 2024 were ~US$418 million, comprised of US$241 million in senior debt, a US$27 million cost over-run facility ("COF"), US$68 million to trade creditors and US$82 million of convertible loan notes, and a restructuring solution for its existing royalties arrangements. Reaching a potential restructuring solution with existing creditors may increase the full funding requirements.'
This is from HZM. This is what happens when a company becomes indebted to various creditors rather than SOLG's approach to financing which was equity dilution and royalty agreements.
HZM is now 1.5p as its equity has been reduced to feck all due to its debt pile, the creditor takes all. SOLG doesn't have this indebted concern, this external and existential threat faced by HZM shareholders