Carl,from the info from others who have spoken to Tom,supposedly the Koreans are still working on getting the credit lines open for Baja.No creditors would open up these lines if all that Baja would retain is 10%.How would they ever pay their debt back?The Koreans would know this,so why bother trying if this is the best they would end up with.
In your conversations with Tom,did it sound like there was any chance they could retain a big percentage of the company in any of the different scenarios they are contemplating?Did you ask why management would care to stick around to complete this project if all the shares and personal investment they put in was worth next to nothing?The Koreans want the ore,not the operation of the mine.Just wondering what was likely to occur from Tom's point of view.Can you fill in some of this information?TIA