re: Ann: Market Update - Proposed Settlement ... $12m is not the...

re: Ann: Market Update - Proposed Settlement ... $12m is not the $28m the company had hoped for- it's about 43% of the original deal- but it also allows for no dilution. The company will have about $4.7m left over after repaying the $7.3m to Noble at the end of the month. Tinkler's Qld house is up for auction tomorrow- asking $4m.

Market cap of $7.4m @ 4c, and will have $4.7m cash. Either that or potentially, Tinkler goes to jail for insolvent trading. I guess he'll be a keen seller of the house. He has already received some funds from horse sales. Gee, he could sell a few WHC shares to make up the rest.