Indeed. Nobel is an asset and a possible curse. They've had issues for many years and fortunately are still trading. I believe what brought them down was the slump in the coal price a few years back (please correct me if wrong). My biggest issue if they go under isn't the $3m loan, it's the 40% partnership in the JV and the equity stake in they own in SL1 - you can imagine an administrator dumping shares at whatever value while at the same time SL1 are trying to raise capital to repay the loan and purchase the 40% of the JV - all over red rover or dilution to oblivion. Anyhow, for now Nobel are still trading and no administrators are in firesaling their assets.
On a positive note, zinc appears to have made a bottom and there's still a supply shortage in the near future.
SL1 Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
