RE:I'm surprised that it hasn't tanked below $0.15My guess is - despite the market reaction - the news release was already known to enough of the people who matter, that the relevant negotiations are already ongoing. As per the release, if that weren't the case, they'd have already defaulted. Since there doesn't seem to be any announcement to that effect, I'm guessing we'll eventually hear about some other form of financing they secured.
That doesn't mean I think they're out of the water by any means. Right now they have exactly one operational mine, however, they are paying for three. Not a great equation if you ask me.