OGX 0.00% 0.3¢ orinoco gold limited

Ann: Update on the status of the Administration, page-123

  1. 9,294 Posts.
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    ''cartesians only chance to get their money back is to come to the table and renegotiate the arrangement

    the anglo debt can also be negotiated

    administrator should allow refinancing and relisting if funds can be found IMO''



    You state come to the table and renegotiate the arrangement - do you honestly think Cascavel can service any debt ???

    OGX was delisted under ASX ruing 12.2 - imo you should research this rule

    Why would the ASX allow the company to be significantly diluted going forward just to help the financiers etc...???

    The administrators must determine that if ogx was restructured the balance sheet remains manageable - ie any more funds help the business and shareholders going forward - not just a restructure for the purposes of allowing creditors the control and ownership of the company just to pay themselves back

    The business must service creditors and be a going concern etc....

    Considering the levels of secured and unsecured debt - this imo is next to impossible

    Look at the terms of the failed $5.4m CR - fees and conditions etc...

    Who would inject capital with all the risks inherent and all the assets under mortgage ????


    Last edited by qqqqqqqqq: 08/05/19
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