trading halt, page-10

Basically Agreed Curious.

I wouldn't be punting on a cheap takeover, because of Chairman Ian Smith's cornerstone holding (42%).

Given that they paid the ANZ back (from the sale of a truck at around $ 400,000, I'd guess it would be a secured convertable loan, transferable to newly issued shares at some price in the future, say 8 cents, being the bottom level for the UK fund convertable notes.

I'd guess a potential financier would be negotiating pretty hard, and that yes, this will take right up until a drop-dead deadline.

Obviously, if it doesn't work out, the recriminations will be serious. I invested, mainly on the back of statements that production would commence in December 2007!!!