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Tuscany International Drilling Inc T.TID



TSX:TID - Post by User

Post by contragaloon Sep 30, 2013 12:42pm
203 Views
Post# 21778454

Lack of news

Lack of newsI´m also surprised by the lack of news, I have to say that I shared veronika's perception that relevant news (good or bad) were supposed to be released on mid-September. Surprisingly nothing was announced regarding September interest + principal payment, though for sure it was completed some way (I´d love to know the details). But more important is to know the current state of refinancing negotiations. My best guess is that Dawson & Co. are in the middle of very intense negotiations with the pool of creditors and this is the main reason for their silence. Time will tell, but the base case should be (as it has been in the past) that Tuscany will reach a new refinancing agreement. How good it will be depends on Tuscany´s ability to bring fresh funds(most probable through asset sales) to the table of negotiations.
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