Interesting story you have here I have a large stake in KDX which has contracted with Veris to mill its ore from a bulk sample operation that is about to kick in. KDX mgmt is top heavy with private equity. Mgmt is the best I've seen.
With that said, I have been researching Veris. The price looks good here. The debt is the deal breaker for me. A lot of risk here. What makes me wonder though is that K2 (Blair Schultz) who sits on the board of KDX blessed Veris as a contractor. These guys would not have touched Veris if they didn't think it was a viable operation. Maybe they think that Varis will continue to operate under a restructure. I don't know. The equity here though is at risk. I'm not sure how they find a way out. The creditors have them by the balls.
What do you folks think