terrible news , page-16

w0mbat

no i think the share issue is a completely separate issue and doesn't directly relate to wiping out the debt/hedge. It's it not certain that the new investors will 'put' all of their dollars into shares, and this would happen only after settlement of restructure, in which case all debt and hedge obligations would already be accounted for.

Simply, the banks have agreed to buy back their debt of ~US$300 million for around 50c in the dollar, a very good deal for LAF (this part).

Speak to the company (Jeff), he will explain it more clearly i'm sure.