BAJ: My take is that Greenslade crumbled to the pressure and the fact that they need funding by Mid June (The lawsuit MK initiated probably did not hurt).
Clearly they need money by Mid June and the debt solution probably won't be done by then. That means they need a bridge loan (Maybe from MK?) or to raise 60M-ish to fund operations till the debt funding can be arranged (an extra month).
Given all that, I can see why he would go to MK and say 'Ok, you get what you want. Now lets talk funding.'
On the bright side, the Cobalt&Zinc savings were higher than I anticipated. That should lower funding requirements nicely if they choose to pursue that option.
The biggest take-away for me was that whatever governance issue existed is now being resolved. That eliminates alot of the 'worst case' scenarios for me, since I already knew they had a timeline for finding cash.
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