Ann: Revised Forecasts - Investor Presentation, page-31

Adriano
My post was accident. I did even realise it had happened. If it was Aprils fools day then I might agree with Adriano. But while he continues to post unsubstantiated rubbish I will disagree with him

For the record let me state my position. I believe the company is trying to remove Mac Bank as their financier and they will be successfull. I dont know how long it will take but the company will keep trying until the goal is achieved.

And obviously if and when the re-finance happens I am sure Adriano wont say he was wrong. More likely he will be on here saying that the terms of the re-finance are poor .

The reason for the refinance are obvious
1. Extend the repayment schedulle so that we can build some short term cash reserves without a massively dilluting share issue. It also enable's us to pay Camif's dividend in cash which again prevents significant dillution

Its simple. It all about preventing dillution and thus preserving the companies long term potential.

And if the company finds a project they can get up and running well ahead of Polaris then we will be able to fund it.

I am much less concerned about how we fund Polaris in 2 years time than having the future potential of my investment slaughtered by a massively dillutive share issue.

What I know for sure with Mac Bank is that they may have waived the 10M share issue for the time being but if they dont get what they want then they will be back trying to force a dilluting share issue.