RE:RE:Why TV still SP legging? Exactly.
They didn't solve anything. They just kicked the can down the road. In four months when their current agreement expires, they'll need to negotiate another one. And that will continue until spot prices rise above the level they need.
Trevali requires spot prices above $1.15 to be cash-flow positive. Until then, they'll continue needing to borrow money to pay back the money they owe.