$5mm paymentI don't understand why people don't just pick up the phone and call the company if you are serious about your investment. I did.
Spoke to Adam, and essentially the company has upto 30 days of grace period FROM THE TIME THEY RECEIVED THE LETTER FROM VALE to make the payment. Since the company has not received the letter yet, why should the company rush to make the payment when future economic condition can be better (or at least the lending appears to be loosen up)? Also, although unconfirmed, it does sound like the options for financing the $5mm is (are) on the table already, so making this payment would not be an issue. I agree with VentureTrader that keeping the company afloat may be the bigger issue here, and I was told that a financing for will done at the same time as the $5mm payment.
Here you go. Anymore question? Call and find out.