RE: Concerned21 Jan 2023 13:09
Look at the agreement on Companies House. When the loan is in default, control of the company is given to NewGen.
Having worked at Bridge Lender where this senario played out a hundred times, I can tell you the primary purpose of Newgenz management of the mine is the maximum rate of return and repayment of principle, fees and interest as soon as possible. If they don't sell the mine they will wait to maximise the return.
At current CU prices the mine is problely profitable but a decade away from clearing its debt. Will Newgen wait? Hard to say, but quite possibly