VH I think you might be right re the cheapest way to do it, and...

VH

I think you might be right re the cheapest way to do it, and I'd do it that way too.

I think the last AGM might have been a wake up call for both the auditors and lenders.

My feeling is both the auditors and lenders were a little too lax (massive understatement) re the reality of the situation. As an example overseas operators had written down assets multiple times and to massive percentages and MRM at that stage had only done twice and moderately if my memory serves me correct. The AGM may have helped expose some truths, but also is an example of be careful what you wish for.

Not sure re the banks moves and that is of course the crux of the issue, but interesting given there are a number of accumulators, it seems a few parties want to be at the bargaining table for the remaining bits.