Ann: 31 December 2012 Annual Report , page-6

Mningnut

Yes the accounts don't look great but the figures you throw around have to be classified correctly. The $168m must be divided between short term and long term liability. The $100 is short term which they are looking at extending or paying down. Yes they will need to look at varioua smart options to do this and their ability to do it is going to depend On how profitable they can demonstrate they will be.

The worst case scenario is that they have to do an emergency share placement at say 25 c to 30 c to raise about $50to $100 m. It will dilute them heavily but at least it will ensure survival and they can then go on to make some serious money. But this is the worst case I am hoping other options present themselves. I.e convert short term debt to longer term and or a smaller placement at a higher price.

What do others think?