one of three announcements tomorrow @ 9.30 am, page-6

My opinion is that they still have a reasonable amount of cash on hand (A$100m-A$150m) to keep going at least another month and won't be refinanced until an asset sale is completed. If they haven't worked something out just yet, they may get an extension to Jan if they have met or renegotiated the conditions (perhaps the job losses and Avebery closure were part of this?). They may also need to raise equity to pay off Facility C (A$188m due on 31 Dec 08) with an institutional investor (Morgan Stanley has 218m shares worth A$118m), depending on whether the bank has decided to be flexible or not (remember they already said they were in default which OZL denies).

I hope for a more positive announcment though.