I suspect that the arbitration resulted in a much more complex valuation/impact on the balance sheet than they had initially thought.
Add to that if the coalition get ito government Abbott has said he will repeal the carbon tax legislation which in turn creates another complexity.
Im sure its not far away at this stage.
The funding was stated to be resolved by end of May so I suggest that they wouldnt be in any rush to lock it away especially now that the favouvable arbitration has come their way. It may open up the doors to speak with other financiers to get a better deal.
Then on the real outside chance, the board may have been approached with a takeover offer!! but this would be premature I suggest.
All in all, Im happy to wait because its all good!
AEJ Price at posting:
$8.55 Sentiment: Hold Disclosure: Held
