My first post here for a while and wow, I've never seen a thread...

My first post here for a while and wow, I've never seen a thread so hijacked by two posters as this one.

Anyway, TT got the math wrong originally, claiming it was $9m, but has the math correct here with $8m. A default under the PT Gulf CN ($6m) triggers a default under the GMC CN to Eighteen Blue ($2m). https://www.asx.com.au/asxpdf/20180312/pdf/43sc015glyp7md.pdf


Note that PT JGI has the right to waive some or all conditions as it sees fit. TT, you have no crystal ball and cannot predict what will happen here. I've seen plenty of these sorts of deals extended or varied.

Another issue that seems to be missed is that the conditions that need to be satisfied are key milestones for GMC, not PT JGI. The satisfaction of these conditions are major share price catalysts (i.e. DSO approval).

Interesting how you shroud this with negativity. Personally, I question your predictions to date, given you have been predicting failure of milestone after milestone that have then subsequently been achieved.


Cheers all

Dan