GREY:NKRSF - Post by User
Post by
Stanley99on Feb 20, 2016 7:22pm
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Post# 24578623
D6 Interests to be paid will be reduced by 50% if ..
D6 Interests to be paid will be reduced by 50% if .. The GOI has not yet approved the grant of security to the lenders. If security is provided prior to March 31, 2016, the D6 PIK interest to be paid will be reduced by 50 percent and if the security is provided thereafter, the D6 PIK interest will be reduced by 25 percent.
Authorization has been received from the Reserve Bank of India and authorization from the GOI has been sought, but not yet granted.
If this works, Niko will still be profitable at a price of $3.15 / MMbtu
Page 7 under "Interest" of Niko's December Operating anf Financial Results.
https://www.nikoresources.com/upload/media_element/116/01/q3-f2016---interim-report.pdf