RE:RE:RE:Kurd33 you da man!!My sense is that this copper downturn has intensified as sentiment has weakened, but I think we will start to see a lot of copper mining slow or stop in 2016 as hedges expire. A lot of production is underwater at this price. If this looks like an oversold or manufactured downturn in Cu, then spot prices might recover back to the mid- (or even high-) $2 range. If that were to happen, I think NCU might have a chance of going forward with PH.
I don't see that happening until later in 2016, so the near term here could be ugly. If copper gets some traction, PALA and Red Kite might agree to some extensions, but if not, then anything is possible. I don't think it serves their interests to allow bankruptcy- they have better options.
The most common outcome from a sp collapse and need for cash would be some kind of financing. PALA could conceivably toutright ake the project over to leverage any bounce and recover some of their losses. They could also provide financing at a very low sp (with warrants) and effectively dilute the retail holders to oblivion. Hence, NCU might survive, PALA improves their position and ACB, and the project lives for the next cycle up.
The problem here is that the interest is accumulating, while cash flow keeps getting pushed off to the future.
I don't think bankruptcy is in the cards, but painful dillution might be, or a strategic buyout by one of the major investors. I've now seen this occur with a few companies over the past six months and it is never pretty.
I'm watching, and might take a small position when this seems to have bottomed. The problem is, I don't know what that will be, and it has always been a volatile stock.