bonoto sc6b and pork pies, page-8

If Blade dont get finance, why would they continue with the buy back of PKO share in Cadloe? One they don't have the money, but two the 25% share would be worthless.

Also now Bonita has gone, the solicitor for PKO will want their payment on legal work on Bonita.
On top of that the solicitor needs to get paid with the Supreme Ct hearing against Blade. Sure the judgement was that legal cost are to be paid by Blade, but I would have thought the correct procedure is PKO pays the legal costs, and then Blade compensates Peak.

Potentially if Blade does not get finance Blade simply goes into liquidation. Peak will still need to pay the solicitor and that is a massive expense.

I think, PKO will shortly sell off portion of SBA in Indonesia and gain cash, plus retain a portion and one party in that joint venture will finance the exploration which is due to start in Oct.

There maybe some recourse against the Blade directors personal assets, but I don't think they would have been willing to agree to jepodize those assets.

I think PKO are in a vulnerable situation of going into liquidation themselves. They had better do a good negotiation with SBA soonish IMO