GREY:TBTEF - Post by User
Comment by
uwinsomeon Jun 21, 2016 6:51pm
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Post# 24985371
RE:NEWS is out
RE:NEWS is outWhat these constant monthly, weekly, daily extensions tells me that:
-The Bank really doesn't want to call the loan - complicated, lengthy and expensive.
-A good deal is not imminent.
-Even restructuring the debt so that TBE can continuing operating is not an option.
The lenders are hoping a buyer steps up and takes over the company and gets them out clean - but it's looking doubtful that common shareholders are looking at a deal which is good for them. Lets not forget that any buyer not only has to take care of the debt but also has to consider TBE's decommissioning liabilities as well. The lenders are going to continue granting these extensions for a while to see if a buyer steps up, but their patience is limited.
The only way I can see this being even an OK (getting even 5.5¢) ending for common shareholders if oil spiles to $70 quick. Not looking good.