RE:RE:Explain to meYes, you make some good points. I'm sure they are relieved to be free of the DB monthly payments, and that will help them get through with lower overhead.
But the fact remains that they first defaulted based on nothing more than a 3 week interruption, which indicates a very thin margin of working capital. Coming on the heels of that default, and the December interruption, where will they get the cash to pay their workforce and contract miners for another 3 week shut down? No gold is being produced or sold.
They just seem like they're always borrowing from Peter to pay Paul, and now they can no longer pay Paul, and Peter isn't likely to loan them any more in their current state.
It scares me.
If they can announce a restructuring during this down period, then they'll likely be OK. I just fear that the next announcement will be more bad news.