and dont forget the accrued interest on the facility shareholders will have to pay as well. A very good loan this is for the govt at 9% wasnt it ... well done
and dont forget the accrued interest on the facility shareholders will have to pay as well. A very good loan this is for the govt at 9% wasnt it ... well done
With the timing of the CR getting pushed out further, I get a sneaky feeling that behind the scenes the Govt is being more of a puppet master than it appears to the general populace. The GR letter is just part of the smoke & mirrors show - controlling the public narrative.. Nothing new or inspiring in the letter that the board wouldn't already be patently aware of.
If & when the CR does eventuate don't be surprised to see Govt elect to just convert the drawn down portion of the $ 900M into shares. In essence making the current arrangement a simple CN for the majority s/holder.
Meanwhile the underlying financial issue of a $40-55m per mth cash burn will continue; despite Pacific bubbles.
you all seem to be missing the major good news in todays announcement - interest rate on government loan has been significantly reduced:
- New lower interest rate of 3.5% (down from 8%) for the first tranche of $1 Billion (increased from $600 million)
- New lower interest rate of 5% (down from 9%) for the second tranche of $500 million (increased from $300 million)
Originally Posted by bull....
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