NewsI wonder if there is going to be some new this week.
Still Learning
"Jervois Global Limited (“Jervois”) (ASX: JRV) (TSX-V: JRV) (OTC: JRVMF) has agreed with the majority bondholder (the “Holder”) of the US$100 million 12.5% Idaho Cobalt Operations (“ICO”) senior secured bonds (the “ICO Bonds”) that the Holder will support a waiver of all financial covenants (the “Waiver”) until 20 July 2024. The ICO Bonds were issued by a Jervois U.S. subsidiary, secured by ICO and guaranteed by Jervois in 20211.
Jervois is working in conjunction with its major lenders on potential transactions to strengthen Jervois’ balance sheet. Concurrently, Jervois continues to focus on cost reductions across its portfolio. This has included a significant, 30%, reduction in senior corporate management roles. In addition, Non Executive Directors unanimously agreed to reduce their cash compensation also by 30%."