How amusing to see these blow-ins without any stock come in and make ridiculous statements. I am not saying people shouldn't post if they don't have stock - all for it - but at least take a stab at understanding what is happening before pumping out utter rubbish.
If you can't read a set of accounts, why do you bother investing at all?
It is simple - there was a technical breach of covenants in the prior period that was resolved. The directors have not breached any more covenants, but are discussing the possibility with banks of amending terms so that there aren't anymore technical breaches in future.
daniel12345 - you ask why the banks don't call in the loan. Why don't you stop and think about it for a moment? Don't you realise the banks make money from lending? Don't you think for a moment that they have done their own DD on the asset and aren't worried about short-term issues in the commissioning phase?
Get a grip people. An exciting opportunity is here but you still want to overpay for CBA dividends!
I strongly suggest posters get an accounting degree or at least learn to read a set of accounts. The equity is worth far from zero I assure you. Why don't you contact the company and ask them how they are travelling?
DML Price at posting:
74.0¢ Sentiment: Buy Disclosure: Held
