GREY:WFREF - Post by User
Comment by
wilwalon May 12, 2016 11:01am
165 Views
Post# 24866000
RE:RE:Yes you may wish
RE:RE:Yes you may wish That NR confirms that the PP has not yet been successful. This NR is for a $16 million loan guarantee for a subsidiary, hardly even a material event and they report it. The PP is to raise $300 million to finance the Long Run purchase and there is silence there so far. The risk of a request for another extension is now much higher. I suspect they need higher oil prices to attract investors to Sino.
Today, I closed my position in LRE on the basis of increased risk of not closing at all. I had pegged successful closure at 90%+ but as time goes on in silence, I have reduced that to 80% risk....and 20% risk of not closing is too high for me when the risk is a 15% upside or a 70-75% downside. I'm sure others here have a higher risk tolerance and that still makes it a reasonable hold.
Best of luck to all for a successful closing. The odds are still in favour of it happening.