Wild Bill, I think that your interpretation of the $34M clause is slightly off mark. My understanding is that CHN can break the sale deal with SFECO if ENAMCO dont pay the money owed for their 30% share. The purpose of this clause is therefore to 'encourage' the Chinese to provide a line of funding that allows ENAMCO to make the required payment.
Still a smart move as the theoretical alternative if ENAMCO didnt pay would be for the 30% to revert to CHN resulting in a very messy project ownership structure of 60% SFECO, 30% CHN and 10% ENAMCO (free carried).
Wild Bill, I think that your interpretation of the $34M clause...
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$1.34 |
Change
-0.055(3.96%) |
Mkt cap ! $571.8M | |||
| Open | High | Low | Value | Volume |
| $1.40 | $1.41 | $1.33 | $1.967M | 1.440M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3856 | $1.43 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.27 | 649 | 1 |
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