I would say blue cap has joint security over empire and brimstone. Then when they had to get Blue cap to extend the facility in January brimstone has to also pay some 50% of the money they got earlier as joint venture partners. This is in assumption that the JV partners each received money last year from the earlier gold pours. Joint ventures are complex. So all of the above is a guess and shouldn't be taken as fact.
New Feature Announcement!
We’re excited to introduce the DealRoom portal, now live on site, providing users with exciting access to private equity opportunities for both pre-IPO and publicly listed companies.
See full details by selecting the new menu item named 'DealRoom' on our main menu bar or click below.
Stay ahead of the market, with HotCopper.