I hear many different things from many different kinds of people, mostly rumor stuff from non-NAFA affiliated people. I do not have facts in hand, difficult to get. Many of the things get circulated by a group of NAFA haters, and I am not talking trappers or ranchers and it's very easy to hear their rumours vs pretty much impossible to find hard facts.
My personal opinion/understanding of it all is that they are/were attempting to acquire a very large loan for an extremely large company from an extremely financially massive syndicate. A loan of such size isn't easy to come by. Next it takes a long time to iron out the details of such a loan. If you are working with a single loan entity with a single voice then it would probably be much easier than with a syndicate comprised of numerous people/entities/groups... too many chiefs? So they have put in a month of negotiating and come up short. Is the negotiation 100% over? I don't know.
We must wait on the NAFA brass to sort thru this. I am not privy to any inside information. I have no idea as to what it takes to sort thru a problem like this. Hopefully they will shed some more light on the subject quickly, hopefully it is a simple job to move onto the next lender or else hopefully the first will show up tomorrow and change their minds and we live happily into the next era... the one where the mink market re-establishes itself rapidly and it's up, up and away for all and we see wild fur spike up and stay up like we haven't in a very long time, it is possible, There has been a dramatic, long awaited reduction happening in the mink world, and sounds like world production could be 30 million pelts this coming year, down from estimates of previous 90 million to 110 million produced annually, and possible for a significantly further reduction yet while the world clears itself of the horrendous backlog of mink. Mountains of mink have been bought by speculators and will continue to feed thru the system for the next few years.
What I do know as a fact is that there are some very good people at the helm now, as in new people due to retirements of old people, and my understanding of the guy at the top is that he is a very capable person and a very decent guy.
So at this point it'll likely take a little time again to redo the process.
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