Who knows where the bid will come from and who will be part of it. You're presuming a lot about Xcoal caring about the recent buyers from Singapore.
Xcoal is forwarding B2Y $5m a month payable if they aren't cash flow positive. I'd say already in default and the mine continues to lose money. But they'll come in and offer 3x the SP? Who else would buy it? Really only makes sense for Xcoal because they're already deep in here to try and salvage their investment and make it back on selling the coal.
I think them buying $10m of stock at 30c shows an error of judgement and then the recent loans as a way to try and leverage some power to make their mistake whole.
But good luck I guess.
B2Y Price at posting:
8.0¢ Sentiment: None Disclosure: Not Held
