Can Strandline Resources (STA) recover?
Good morning James & Harry, Can we get an update on STA for those of us who unfortunately held on? Looks like a sinking ship (or sunken) to me. Any way STA can recover? Enjoy MM immensely! Cheers
The Latest Q&A
Answer
Hi Erica,
Sorry to hear you are still a holder. They’re still operating and generating cash from their operations. They are working on a strategy and debt package currently. They requested an extension to their voluntary suspension until the earlier of Friday, 15 March 2024, or when an announcement regarding the status of the operations strategy and
associated funding requirements can be made.
Not a dead duck yet, however it seems like any deal done will obviously have the bond/debt holders above the interests of equity holders given their seniority in the capital structure.
