"They (the lending banks) have just as much to loose as the board!"
Your kidding. The banks have vastly more at stake than the Board.
Collectively, the Board has about $2 mil on the table (two tenths of bugger all). The banks have $193 mil, at least half of which would be lost with the extinction of the Redbank-Asgrid supply agreement.
A company such as Redbank withholding a principal repayment is unprecedented in my experience, and I think that the bankers will be in shock!
I agree that the Board's action should produce a resolution much sooner.
What happened to your "Wow" reaction?
AEJ Price at posting:
$7.50 Sentiment: Hold Disclosure: Held
