RE: Does anyone have thoughts on how we mayMy humble thoughts:
If BUK is unable to address its debt situation then the company will not be able to raise any money to fulfill its financial commitments to the JV in Idaho, looks like PXM will be busy over the next couple of months, PXM has the cash to complete the work, but I am making an asumption that BUK will have to come up with 50% of the cash requirements (of course I have not seen the agreement between PXM and BUK), this is purely based on my experience in seeing other JV agreements of this nature.
If BUK is unable to meet their JV obligations then they will obviously default giving PXM the opportunity to get 100% of the Idaho asset. PXM would them be the operator and game on.