If EDC don't proceed with Quellaapacheta in a fortnight HRL have to find $400k - which they clearly don't have.
Even if EDC extend terms, operating losses will kill HRL shortly. EDC could buy Quellaapacheta; but wait a month and they'd get it for next to nothing in a fire sale.
No mention of EDC proceeding, or exiting. Two weeks out you'd think the directors would have some idea. I guess it's understandable that a poor prospect might not be confirmed today. Better than the fairy tales of EHR who instead said they could see no reason a company saving deal would not be successful - knowing full well that the writing was on the wall (no, KK, I'm not over it).
It's tempting to think EDC might come in as a white knight. Maybe do like the recent backers of Panax (now RYG) and finance the project/s for a lion's share of the ownership. But that's probably just wishful thinking.
Miracles aside it looks like HRL won't be around end Oct.
Sorry KK
It looks like the Directors chipped in a bit; an gallant thing to do.
the only thing preventing a blood bath tomorrow might be some uncertainty/hope re EDC.
Know how it feels KK... :\
HRL Price at posting:
0.5¢ Sentiment: None Disclosure: Not Held
