Ann: Research Report, page-10

They've had that Macquarie facility for along time now striebs, yes failure to add any value whatsoever to the company no doubt means Macquarie needs some more equity before lending any further from here, but will McLeod now suddenly become a better allocator of our capital this time around? So far all he's done is buy assets that may never be worth anything....

I note McLeod still only owns 9 million shares in EEG, 3% of EEG, really hope he lifts his holding materially in this raising process. In my experience need closer to 10% before management really give a toss at this end of the market.

Well the TERP is 1.1 cents, so as a trade you could buy it at .008/0.009 , but expecting a massive shortfall unless we get some unexpected positive news ahead of deal closing 17 Jan.