Been in and out a few times Klue - never got into the absolute nitty gritty but in a nutshell -- They are losing money and have a mounting debt bill. Makes repayments difficult. Got a world class asset, but is underwater at current prices. Tried to sell a chunk for debt relief, but sale fell through. Need funding asap ...when back to the wall wont be on favourable terms. Not dissimilar to Peabody. Took them for a 18 bag options ride in 2 weeks earlier this year. Big reward on offer, but could end up with a fat donut. If they can come up with a strategy to hold the wolves off for another 6 months, i'll dip the toe and just hope for a U bounce. Gambling money only.
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