Ann: Letter to Shareholders, page-3

I have been following this one a little bit ....but l dont underestand exactly what liabilities GBG actually have .

I note the company claims to have net assets of some 37 odd million (from memory)....mainly in cash and deposits ...

Where does the $300 mill bank facility ....guarantee ....etc etc referred to in the companies recent letter fit in .... in the big picture ?

Can any one elaborate on this ??

I am guessing despite the probable turn around in the Karara project is unlikely to ever benefit the company ....however is their likely to be a call on the company for funds relating to the $300 mill mentioned .

Any feedback appreciated

Cheers

VA