any comments on announcements, page-29

I re-read ann.s.
Its easy to be negative but some points to consider:

The chairmans address in Nov. stated that conditions precedent would be done by end of year - the fact that its slipped to Jan. for innocent reasons may have prompted them to issue the ann. to keep us informed. Particularly when they know people heading off on hols.

I recall an HC poster speculating on the drawdown recently - perhaps they took noticed and wanted to put our minds at ease.

I am a little nervous now also - todays ann. refers to the "Funding Plan" ann on 18/12 but this describes itself as a Update on Costs, something that has been around since 2007.

We need every bit of the facility including the side dish of $15m "additional facility" - which is wher I am confused - the 18/12 ann says HVB totals 105+15=120.

However the ann. in 2007 ann and the latest annual report state teh facility to be $105M, inclusive of $15m working capital facility. So where did Directors get the extra $15m in the 18/12ann.? I can't find any ann.on it, so this may be what is a possible sticking point.