Jalbiglog,
They are not going broke anytime soon.
LGDI has virtually no debt and is beginning to run short on cash, but that does not take into account their holdings of NADL stock.
This is an investment that could be sold on the open market in no time, that would be sufficient to continue to fund basic operations at LGDI for the bulk of 2012.
That gives LGDI another year to find an equity partner, not that it should take anywhere near that long. I would like to hear what Nomura has to say about finding an equity partner in this business climate.
LGDI also holds shares in Northern Capital Resources which is not yet publicly traded, but should have some substantial value when they finally list on an exchange.
All is not yet lost.
Have a great day!
