they injected $75.5m into a bankrupt company with nothing but a lawsuit against a country no less
As per the 18th Monitors report:
As of December 31, 2015, the outstanding balances of the DIP Loan was approximately US $95.3 million, including accrued interest.
Can you explain to us common folk, how Rusoro managed to win a 1.2B award for $3.3M? GRZ's 740M award cost them 10x that at maximum. Please enlighten us what this money was spent on, or do we need to sign an NDA?
The only reason they would "inject" this ridiculous amount is to wipe out shareholder value. It's in Tenor's best interest to to maximize returns for their stakeholders, and this is how you do it.
Tenor were told it would cost half as much and take half as long to get their money back but nevertheless continued to throw hard cash through 4 rounds of loans with no objections from shareholders.
No objections from shareholders? Yes, we were just jubilous with further dilution.
We had no voice until some shareholders finally took charge and hired Gowlings, and we'd be in an opt-out situation if it weren't for Tenor/management.
