I attended the GM todayDisclosure Sold majority yesterday after delay announcement. Looking for a re entry point
· In talks with 4 banks two have approved
· Milestones had to be met before lenders commit and FID was needed with some lenders.
· Late Sept found out about the purchase ILO lease
· Final cost from WPL was end of Dec
· JVA was an old JVA and “very loose” and they do not know which way it will go
· PE. From when the decision was made in Dec and handed for a final tick will take weeks not months (Kath’s words) (don’t expect Monday my words)
· First cash call will be end of Feb then nothing until next year
· SPP raised 10mil (better than they thought)
I was up the back and a little late so I hope this helps some. The board seemed calm but well aware of the issues at hand
ER
PS i will not reply to any stupid extremists. If you want to know more be respectful and if i can answer i will.
GLTAH
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