when you look at whats happeneing in our market - there are lots...

when you look at whats happeneing in our market - there are lots of examples of asset rich companies....that have cashflow issues .....that the banks are saying enough is enough (ari / bol / couple of Fe miners / couple of big oilers ...etc etc)....

when there is a relative lack of hard assets.......viz HIL.....then the banks get doubly nervous ....this prob explains the fixed and floating charge.....

I rekon HIL will have to dramatically reduce its bal sheet debt........and the most likely way of doing this is a deepely discounted 1: 1 rights issue......along with a large "broom" to clean out the dross .......otherwise .........It will either drift lower (and get privatised at 5c in the $ of whatever the value is........see Calibre group for a classic example).

does anyone "know" or have a reasonable idea as to the banking connections of the hill-ling families ?

rgds
V_H