debt free, page-3

Not to sure where 22% of long term debt is mentioned but on page 5 of announcement 18/8 it states the debt position has been accounted for and they have $1.8 mill in the bank plus all of their tenements are in tact. IMO this move by the company to get them out of the poo with a cap. raise to creditors & investors was huge, these guys were going down the gurgler late last year, I like so many others thought they had done their dough. Management has been heavily criticized in the past but this was a major move. The down side is that the creditors were issued 2.8bill. shares @ 0.001 plus attaching options so it will take a while to chew thru those so plenty of time to make your mind up. I topped up myself on heads & oppies yesterday after a very encouraging announcement. This IMO will be a long term investment, won't be any significant gains for quite a while until the placement shares have been soaked up.