Post by
Thundersole on Aug 14, 2013 10:50am
Donner Foreplay
Strange how Donner is the one releasing this news on their own default, they have the cash to not be in default, yet have chosen not to make the payment and then make a news release stating the consequences.
Glencare Xstrata has not made a news release stating that Donner is in default.
This may be orchestrated to allow some transaction/setlement to take place. Maybe GX will end up with a bigger percentage of the action and Donner will have a smaller stake with smaller cash calls.
Comment by
carinthian on Aug 14, 2013 10:59am
Compared to the size of GX this might be a minor event not worth a press reslease? The only thing I can imagine is that with this they are increasing pressure on shareholders to accept more dilution being confronted with complete failure? Just guessing and my thoughts. dyodd carinthian
Comment by
fanofsg on Aug 14, 2013 11:26am
That would be as if I did not pay my house mortgage, even though I have the money, then I publish a news release that I haven't paid it, the result of which my house will be foreclosed. Who does that? IMO, this is a ploy to screw SME over.