RE: Great RNS13 Oct 2022 12:39
Let's have some accuracy here, what you mean is "Everything has the potential to change"
Let's look at this. NF was a train crash of a project from the old guard who have now, without exception, been defenestrated. Since then, the new BoD have done an awful lot to bring a lagging project run by people who couldn't care less to the brink of completion. Its now under Chapter 11 USA bankruptcy code. This simply is a restructure opportunity, the assets are going nowhere, and there's a lot of them. If it was a chapter 7 as I understand it, things might be different. It isn't. $20m worth of assets when running in Q3 '23 and we currently own 49% of the project and as aandi says, have something like $600k outstanding. To end up with nothing on the other side of the restructure when it's our kit lying in their yard seems like an outlandish possibility to me. We need only about 3% ownership on the other side to break even. The chances of going that low? Nil in my view.
Have another go C909. Your arguments are far too easy to dismantle.