RE:RE:RE:RE:An excellent story coming togetherThe journalist who got this news out seems very respected and methiculous as to what journalism is.
So this has had to been leaked by Niko somewhere, though, I am confident because Niko is doing everything they said it would do
From March
CALGARY – After a search for buyers failed to turn up any meaningful offers, Niko Resources Ltd. has restructured its debts in a move that sent the company’s shares on a rare rally.
Niko’s share price jumped 57 per cent on Monday morning to 44 cents each on the announcement that the company had restructured its loan commitments and delayed its payment obligations by two years.
The uptick comes after years of declines, in which shares of Niko — a one-time analyst favourite and investor darling — collapsed from over $100 in 2010 to 6 cents as recently as January.
“If they can’t get a deal done in the next two years, then we’re right back to where we were,” Maison Placements analyst Josef Schachter said of Niko’s debt restructuring.
The deal still requires a vote, but would provide some short-term interest payment relief while also extending the company’s debt maturities.
Schachter said Niko is still struggling with a high debt load, and is still looking to sell itself, as long as it can get a price that covers the company’s debts.