Do you think the banks would have rolled over $250mil of debt on the basis of a punt ?
In Jan 2008 Debtors had blown out and most of this cash was being chased hard by Peter (Interim CEO)
I really think they have thrown all the rubbish out now and here is where the real turn around begins with the sale of several other smaller assets we should see debt levels reduce when the next financial results are put to market.
I also think the SP low of 10cents was not real and hence the the price today should be seen as the lows meaning a SP rally back into the 20's is likely.
I have actually met with management and they are impressive
Regards
CDR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
