us$550m (au$730) debt after martabe sale, page-2

BB, the problem is we don't have management in place that want to do the hard yards now.
They should have had their eye on a possible return to normality all the way through...they should be in at the banks now running the slide rule over every possible scenario, showing them how commodities have risen, how when the company was on its knees in Dec-Feb it still pulled through by having had cash in its bank and $$'s coming in, re-iterating that they have never missed an interest payment and are unlikely to do so, highlighting that the jewel in the crown (PH) is now up and running (with no problems), reminding them that the credit crunch on the banks has eased, and if the banks were able to make it to this point without the money why not (now that conditions are easing) stay the line.

As you stated why not be able to payout the rogue bank (supposed to be the smallest) with the Martarbe proceeds? Why not ask the Government to have a quiet word to the Aussie banks and remind them 1. credit conditions have eased, 2. they (the banks) are being propped up with gov't guarantees, 3. commodities are rising hence risks are dropping and cash is increasing.

Yep it all seems sensible but one problem...our management team works for the "takeover company"!!