pretty piss-poor compliance (obligations) imho ...... going...

pretty piss-poor compliance (obligations) imho ......

going forward:

1. no self-respecting punter will put any $$$$ into this while the preffs are outstanding ......
2. this implies US$65m, @ 80% of vwap (basically 100% inc in share capital) .......
3. they will then need circa 30-40m in new $$$ to pay grieve facility ......
4. it will then be possible to refi .........

there will then be some potential for "uplift" ........

in the meantime ......ugly .....

rgds
V_H